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Department store players largely strong in July
New York -- Helped by hot weather and clearance sales, many retailers reported solid results in July, a month that can be a tepid lead-up to the back-to-school shopping season.
Some of the strongest showings in the month were in the department store category, as those reporting all showed July gains.
Macy’s led the pack with a 4.1% same-store sales rise. Total sales increased 5.1% to $1.7 billion over the four-week period.
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In line and on track, Target likes 2Q
MINNEAPOLIS — July same-store sales at Target increased 3.1%, in line with the company’s guidance.
Target credited an increase in average transaction size as the primary driver of a 3.1% same-store sales increase during the July reporting period. An increase in the number of transactions also contributed to a 3.1% gain that was in-line with the company’s guidance for a low to mid single digit increase on top of a July 2011 increase of 4.1%.