Retail Sales Miss Forecasts In July, Raise Back-To-School Worries
Source: LA TIMES
By Tiffany Hsu
August 8, 2013, 8:36 a.m.
Retail sales for July missed expectations as discounters and teen apparel stores struggled, causing Wall Street to fret about the fate of back-to-school shopping.
A monthly gauge of same-store sales from Thomson Reuters found 4.2% growth from a year earlier, though analysts had expected a 4.4% uptick. Stripping out the effect of drug stores, the industry got a 3.7% boost, which also fell short of predictions.
Discounters reported a 4% rise a full percentage point below forecasts. The teen apparel category also failed to impress, increasing sales 1.6% instead of the expected 2.1%.
Earlier this week, American Eagle said same-store sales for its second quarter likely slumped 7% while rival Aeropostale projected a 15% decline. Similar chain Rue 21 pre-announced a 5.9% same-store sales dive amid heavy discounts on spring and summer merchandise in its second quarter.
Read more: http://www.latimes.com/business/money/la-fi-mo-retail-sales-july-school-20130808,0,2499585.story?track=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+latimes%2Fmostviewed+%28L.A.+Times+-+Most+Viewed+Stories%29
hobbit709
(41,694 posts)Crow73
(257 posts)Raise wages, if people have more money they can buy more stuff.
RC
(25,592 posts)Come'on, he didn't get to be where he is by being nice to everyone.
olddots
(10,237 posts)that falls apart before the Xmas rush , people starve when the fools give a shit about fashion.
Don't get me started !
Thav
(946 posts)QUICK! Before stocks go down short term! OMG EMERGENCY
Someone get the fed on the line, they need a bailout!
thatgemguy
(506 posts)NickB79
(19,246 posts)Link Speed
(650 posts)Our retail sales are thru the roof, but we are specialty retailers.