July same-stores start slow
July 20, 2001,
New York — Getting July off to a choppy start, same-store sales during the first week of the month remained weak for the nation's department stores, while discounters continued to draw bargain-conscious consumers to the malls, according to the widely watched Redbook Retail Sales Average.
Same-store sales in the nation's department stores fell by 1.5 percent from June levels, while discounters advanced by 3.8 percent. Hobbled by continued weakness in high-price, high-margin department stores, the widely watched Redbook Average moved up by 1.7 percent during the week, well shy of a targeted gain of 2.1 percent.
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