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August 03, 2006
For Better Retailers, Sales Sizzle In July
High-end retailers pulled off moderate gains in July, despite a heat wave that kept many shoppers indoors.
Federated Department Stores posted a 3.3% increase in same store sales, while Nordstrom reported a 5.3% gain. Federated expects similar results in August, predicting an increase of between 3% and 4%.
Mass-market mall denizens, such as Gap, Old Navy and Banana Republic, continued to post lackluster results, reporting a 4% drop in same store sales.
Posted by Blacks on August 3, 2006 09:08 AM
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