July Retail Sales Up

Retail sales climbed slightly last month—in the typically slow month of July—led by companies Gap, Inc. (San Francisco) and L Brands (Columbus, Ohio). While sales lagged at Gap stores, the company’s Banana Republic and Old Navy brands inched slightly higher. L Brands’ growth last month was led by its Bath & Body Works and Victoria’s Secret divisions. Costco posted a five percent increase in July sales, falling a point short of analysts' predictions.

According the The Wall Street Journal, The Thomson Reuters sales index showed retail sales rose 4.4 percent in July, slightly higher than its prediction of 4.2 percent growth and more than a full point higher than the 3.3 percent increase posted a year earlier.