Retailers Hope for A Warm-Up

Michigan retailers experienced a “small thaw” with slightly higher sales and an improving short-term outlook in February, but still have a lot of frozen ground to make up after the extreme winter, according to a new survey from the Michigan Retailers Association. MRA president and CEO, Jim Hallan, says while their monthy Michigan Retail Index survey in February found 42% of retailers increasing sales over the same month last year, better than the 30% in January, it was the harsh winter weather that kept consumers indoors and away from stores. Hallan also blames higher energy costs which led to less spendable income for consumers in February. He says a warm spring is what is needed to help everybody get back on track.