July Same-Store Sales Slow

After strong performance in June, retail same-store sales slowed to 4.8 percent growth in July. Consumer spending plans, including back-to-school shopping, showed signs of stress, Kantar Retail reported.Growth in July was softer than the 7.1 percent same-

April 6, 2018

Growth in July was softer than the 7.1 percent same-store sales gain last month, but better than the 2.9 percent gain in July last year.

Saks posted the biggest increase in retail sales at 15.6 percent, followed by Tandy Leather Factory at 15 percent, Costco at 10 percent and Neiman Marcus and BJ's Wholesale Club at 9.2 percent.

The biggest decliner was Destiny Maternity with a decrease of 6.3 percent, according to Kantar Retail.

“Most interesting in these numbers is that many retailers are reporting decent gains in apparel sales, which is a discretionary category that is often the first to suffer from the economic strains on shoppers’ confidence and spending intentions," says Frank Badillo, senior economist at Kantar Retail. "That discretionary spending, however, is undoubtedly falling off most among lower income shoppers hurt most by rising prices and a weak job market.”

For a list of the retailers reporting, please visit:

http://www.kantarretail.com/pressroom/samestr_sales.pdf

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