July comps off to a good start
July 12, 2011,
Same-store sales in the discount segment jumped 6.1% while the department store channel rang up a 4.2% increase. With the holiday falling one day later than last year and falling over a weekend, the sales impact stretched into two weekly reporting periods.
Redbook analyst Catlin Levis noted that the focus in July is on clearing seasonal inventories.
"Sales performance is typically driven by discounting, which can vary sharply from week-to-week depending on individual store promotions and the availability of goods on sale," she said.
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