July comp sales show some pop
August 3, 2006,
New York — Scorching hot weather apparently sent shoppers into the malls for the air conditioning and warm-weather apparel, and key retailers across the nation reported mostly strong same-store sales during July.
But the month was not without its disappointments. Target continued to stumble, its same-store sales rising a disappointing 3.1%, well off from its former high-flying pace, and beneath the 3.8% Wall Street had been expecting.
Even though its core low-income customer base has been hard hit by rising gas prices, Wal-Mart Stores did modestly better than expected, pushing its comps up by 2.3%, a big improvement over the 1.2% increase in June.
Related Content By Author
The Countdown to the ICON Honors Continues featuring Christophe Pourny