Categories: Headlines

A Mixed June for Retailers

The Associated Press reported that rebate checks and discounted merchandise gave a boost in June sales to some retailers.

The A.P. said that monthly sales figures being reported by U.S. retailers show that shoppers are buying mostly necessities at discounters and still shying away from mall-based apparel stores, as high gas and food prices and a slumping housing market crimp their budgets.

Wal-Mart Stores Inc. (Bentonville, Ark.) and Costco Wholesale Corp. (Issaquah, Wash.) were among those reporting better-than-expected sales results, while mall-based apparel sellers like Limited Brands Inc. (Columbus, Ohio) and Wet Seal Inc. (Foothills Ranch, Calif.) said their same-store sales remain sluggish.

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