The maps show last week’s (weekending May 19th, 2007) temperature and precipitation trends compared to the same week last year (weekending May 20th, 2006).
National temperatures last week were -0.5°F COLDER than last year and -0.4°F BELOW NORMAL for the nation as a whole. This ended the streak of three straight warmer year-on-year weeks for the nation as a whole. The positive factor was the driest week nationally in 11 weeks. This is a plus for store traffic and outdoor activities which favors garden categories, food and Beverage categories, grills, suncare, deck stains, and car wax among others. The ever increasing negative on consumer spending is record high gas prices. A recent National Retail Federation survey found rising gasoline prices worry consumers and retailers as prices soar for the sixth straight day. 40.2% of consumers surveyed are taking fewer shopping trips, 30.7% said they are shopping for sales more often, 24.1% said they are spending less on clothing, and 32.6% have decreased their vacation travel plans. The very tough weather comparisons in the weeks ahead will likely result in a weak May for retailers. ICSC expects retail industry gains of 2% to 2.5% which would be 4th worst in 22 years.