July retail sales disappointNews added by ProWEB Media on August 5, 2010
Gary Linnell

ProWEB Media

Joined: December 27, 2005

Retail sales for July failed to meet expectations, as high unemployment rates continue to take their toll on consumers.

The 28 retailers tracked by Thomson Reuters reported a 2.9 percent rise in July sales at stores open at least one year, with 17 reporting lower-than-expected sales, and nine beating estimates.

Among those beating expectations were department store operators Macy's Inc. and Kohl's Corp.

Meanwhile, JC Penney Co and Dillards Inc both experienced unexpected same-store declines for July.

Despite the disappointing results, July marked the 11th straight month of improving sales for the sector. During July 2009, sales fell 5.1 percent.
The views expressed here are those of the author and not necessarily those of ProducersWEB.
Reprinting or reposting this article without prior consent of Producersweb.com is strictly prohibited.
If you have questions, please visit our terms and conditions
Post Press Release