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June sales get some help from promotions
Retail sales generally improved in June, helped by good weather and big discounts as retailers look to clear inventory for the back-to-school season.
Costco Wholesale Corp. reported a 6% increase in June same-store sales, helped by higher fuel prices. Its results topped Wall Street estimates.
Excluding the impact of foreign exchange rates and gasoline prices, Costco’s same-store sales increased 6% for the five-week period ended July 6. The metric rose 5% in the United States and 7% overseas.