6 September 2001, 15:15 U.S. Chain Stories See Softening, Yet August Ahead of Plan
The Redbook Average for U.S. same-store sales rose 0.3% in August
compared to July, through the week ended Sept. 1, and despite some
softening were ahead of the target of -0.2%, according to the weekly
Instinet Research on department stores sales released Wednesday. The
same-store sales index rose 2.6% seasonally adjusted compared to the
same week a year ago, putting August 2001 sales at 2.7% higher than
August 2000, beating the target of 2.2%. "Sales softened markedly in the
final week of August, culminating in a particularly sluggish weekend.
Merchants said that the slowdown was broad based, although some reports
indicated that the northeast was stronger than other areas. Despite
this, the month ended ahead of plan," the report said.
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