Retail sales mixed in August
New York -- Although back-to-school sales were expectedly sluggish, retail sales for the month of August benefited from a late boost in store traffic.
Of the retailers still reporting monthly sales – most so far are reporting slight increases in August same-store sales. Retail Metrics forecast an overall August gain of 3.2% year-over-year; retail sales advanced 3.3% during the same period last year.
Costco Wholesale Corp. reported a same-store sales rise of 4% in August, surpassing a forecast 3.8% gain.
The Limited saw August comps climb 2%, just missing an expected rise of 2.1%. Total sales for the month rose to $704.7 million, from $665.6 million.
The Buckle beat forecasts with a 1% rise, but was off last year’s mark of a 4.5% gain. Revenue for the month inched up 0.3% to $101.1 million.
Stein Mart same-store sales rose 3.8%, and Cato Corp. recorded a 2% drop.
At Fred's Inc., same-store sales were flat to a decline of 2.8% last year. Total sales were also flat, at $140 million.