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(June web) AD-Grow-Faster-970x90-Q2

Apr 24, 2023

February Retail Sales Slip

After a gain of 1.4 per cent in January, retail sales decreased 0.2 per cent to $66.3 billion in February, says Statistics Canada. Sales decreased in four of nine subsectors, representing 48 per cent of retail trade. Sales decreased in six provinces. The decrease was led by lower sales at gasoline stations and fuel vendors (down five per cent) and general merchandise retailers (1.6 per cent). Core retail sales – which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers – increased 0.1 per cent. Overall sales in the building material and garden equipment and supplies subsector decreased 11 per cent year over year to $3.9 billion while sales in the floor covering, window treatment, and other home furnishing subsector decreased 6.9 per cent to $722 million. On a seasonally adjusted basis, retail eCommerce sales were up 7.8 per cent to $3.7 billion in February, accounting for 5.5 per cent of total retail trade, compared with 5.1 per cent in January.

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