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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