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Article: Retailers report weak June sales
- Article from:
- AP Online
- Article date:
- July 9, 2009
CopyrightCopyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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Escalating job worries and rainy weather dampened shoppers' appetite for buying summer staples like shorts and dresses, resulting in sharp sales declines for many merchants.
As merchants reported their monthly figures Thursday, the weakness appeared to cut across all sectors, particularly apparel merchants. Among the biggest disappointments so far were Limited Brands Inc., teen merchant Wet Seal Inc. and The Children's Place Retail Stores Inc.
Even low-priced operator Costco Wholesale Corp. struggled with a same-store sales decline compared with a year ago when business was helped by stimulus rebate checks.
Same-store sales are sales at stores open at least a year and are considered a key ...