Retail sales down from last month, up y-o-y

OTTAWA — Retail sales decreased for the second consecutive month in January, declining 1.7% to $41.4 billion, reports StatCan. Lower sales at gasoline stations represented the majority of the decline. Excluding sales at gasoline stations, retail sales were down 0.8% and up 4.2% versus January 2014. Furniture and home furnishings stores decreased 2.1% in January, the third decline in four months. Sales by building material and garden equipment and supplies dealers were down 1.2% from December, but up 2.2% year over year.