Saks
July a Mixed Sales Bag for Chain Retailers
With government stimulus checks mostly spent, July was a gloomy month for retailers. WWD took a toll of the national chains that either fell short of expectations or took a hit last month--or both--compared to July 2007.
Sales were up 3 percent year-over-year at Wal-Mart, falling short of the 3.4 percent boost analysts predicted. The nation’s largest retailer prepared investors for a tough August as well, estimating a 1 to 2 percent increase. read more »
- Target’s sales fell 1.2 percent annually.
- Kohl’s dropped 10.4 percent.
- J.C. Penney's were down 6.5 percent.
- Neiman Marcus' sales were down 1.7 percent.
- Saks were down 5.3 percent.
- Nordstrom’s same-store sales dropped 6.
