Home drives retail sales closer to target for July
July 23, 2002,
New York — Helped by strong sales of home goods, same-store retail sales picked up by 2.6 percent over year-ago levels during the second week of July, a marked improvement over a slender 1.5 percent increase the previous week, according to the Redbook Retail Sales Average.
But even with the lift, month-to-date sales were still short of their target, moving up by 2.1 percent, shy of a targeted gain of 2.4 percent, stuck in the summer doldrums and hampered by consumer apathy in the wake of a falling stock market and mounting corporate bad news.
Measured against June results, sales for the two week period slipped by 0.3 percent, compared with a forecast increase of 0.3 percent.
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