Retail same-store sales grew 7.1 percent in June, Kantar Retail reported. The increase was attributed to a drop in gasoline prices.
The gain was better than the 5.7 percent same-store sales gain in May and the 3.2 percent gain last June.
For the second month in a row, Costco posted the biggest increase in comparable store sales at 14.0 percent. Neiman Marcus followed at 12.5 percent, Limited Brands at 12.0 percent and Saks at 11.9 percent.
The biggest decliner was Stein Mart with a decrease of 1.5 percent, according to Kantar Retail.
“High fuel and food prices will still take a toll, but a sustained letup in gasoline prices will help ensure that the toll means slower growth instead of outright declines in discretionary spending in the months ahead,” says Frank Badillo, senior economist at Kantar Retail.
For a list of the retailers reporting, please visit: http://www.kantarretail.com/pressroom/samestr_sales.pdf