New York City, Early indications of July sales appear to be less satisfying than June’s 5.3% surge. But there were plenty of positive numbers reported.
“Concerns about high gas prices were dismissed yet again as shoppers hit the stores to dig into very cool fashions for summer vacations and prepare for the early phases of back-to-school—with fall transitional fashions selling at full price that will help margins at some apparel retailers,” said Richard Hastings, VP and senior retail sector analyst for New York City-based Bernard Sands LLC.
Wal-Mart Stores reported 4.4% increase in comp-store sales.
Target Corp. comps increased 5.5% for the month.
Abercrombie & Fitch posted a comp-store sales increase of 22%.
American Eagle Outfitters posted a comps increase of 17.1%.
Gap Inc. reported flat comps for the month.
TJX Cos. posted a comp-store sales increase of 1% for the month.