Same-Store Retail Sales Up Only Slightly

Despite buying spurred by hot weather driving consumers into air-conditioned malls, sales promotions, and the stocking up of food ahead of the holiday weekend, same-store sales were up only 0.6 percent from a year ago in the July 2 week, for yet another sluggish sub-1 percent weekly gain. Month-to-date, June was up 0.7 percent from June of last year, and down 0.9 percent month-over-month from May. Looking ahead, Redbook said it expects 0.5 percent year-on-year sales growth for July and a drop of 0.6 percent month-over-month from June, noting that July is usually a month of relatively low volume sales, boosted somewhat by promotional clearance sales as stores make room for fall inventory.