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Specialty stores hit and miss in June
NEW YORK — Disappointing same-store sales results in June weren’t necessarily unexpected, as the month typically trends weaker as shoppers have fewer reasons to shop.
Thomson Reuters, which polls 18 U.S. retail chains, projected its Same-Store Sales Index to inch up 0.5% in June, far below last year’s 6.7% rise for the month. Analysts have said that warm weather may have prompted consumers to make summer apparel purchases earlier than usual, shifting sales from later months like June.
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Unemployment claims fall more than forecast
Washington, D.C. -- A report issued Thursday by the Labor Department showed that applications for jobless benefits fell 14,000 in the week ended June 30, to 374,000.
The news eased some concern that the labor market is faltering further.
“Before today it was pretty clear the labor market had softened over the past few months,” Daniel Silver, an economist at JPMorgan Chase & Co., told Bloomberg. “Today’s reports show a little bright spot.”