Retail stores report solid gains in July sales
Merchants reported their sales for July on Thursday, and many came in better than expected. Target Corp. and Costco Wholesale Corp. reported a gain above analysts' expectations. (May 15, 2012) Credit: Bloomberg News
Retailers are reporting solid gains in July in a key revenue figure, helped by hot weather and clearance sales.
As merchants reported their sales early Thursday, many came in better than expected. Costco Wholesale Corp. and Target Corp. reported a gain above expectations.
Limited Brands Inc., which runs Victoria's Secret and Bath & Body Works, said the revenue figure rose double what analysts expected. Gap Inc. also far surpassed predictions.
As the back-to-school season kicks off, teen clothing sellers were mixed. Wet Seal and Zumiez both missed expectations. But Hot Topic and American Eagle reported strong second-quarter figures.
The figures are based on revenue at stores open at least a year. That is considered a key indicator of a retailer's health because it excludes newly opened and closed stores.
Sarra Sounds Off Ep. 35: EI baseball, girls lacrosse and plays of the week On the latest episode of "Sarra Sounds Off," we look at East Islip baseball's inspirational comeback story, Jared Valluzzi has the plays of the week and Tess Ferguson breaks down the top defensive players in girls lacrosse.
Sarra Sounds Off Ep. 35: EI baseball, girls lacrosse and plays of the week On the latest episode of "Sarra Sounds Off," we look at East Islip baseball's inspirational comeback story, Jared Valluzzi has the plays of the week and Tess Ferguson breaks down the top defensive players in girls lacrosse.
