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Article: SAME-STORE SALES SIZZLE
- Article from:
- HFN The Weekly Newspaper for the Home Furnishing Network
- Article date:
- August 10, 1998
- Author:
CopyrightCOPYRIGHT 1998 MacFadden Communications Group LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Consumers continued to flock to the malls and shopping centers in July with the same vigor as in the first half of the year. Indeed, last month's 5.9 percent increase in comparable-store sales by retailers nationwide was the best July in five years, according to retail tracking services.
The Bank of Tokyo-Mitsubishi compiled data and sales figures from 86 retailers to get the 5.9-percent increase from year-ago levels. "July looks like the consumer buying spree continues," said BTM economist Mike Niemira, noting that firms reported broad-based strength, with household-related spending continuing to provide underlying support for overall sales.
With the ...