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May same-store sales fizzle
With a couple of exceptions, May same-store sales figures reported by several major apparel, specialty and discount chains were less than impressive.
First the good news. Bath & Body Works reported a 3% same-store sales lift for May 2016 compared to the same month a year earlier. Same-store sales at Costco Wholesale Corp. and L Brands were flat, which may not sound that encouraging but was better than most other retailers reporting figures for the month.
Here is a roundup of other chains reporting negative same-store sales growth for the month.
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JLL: Retail driving construction growth
First, the good news: A strong retail sector is helping to drive 2016 U.S. construction activity, with retail construction projects up 24.4% year-over-year.
That’s according to JLL’s latest report on non-residential U.S. construction activity. On the less positive side, the report noted there is a cloud of economic uncertainty, which has companies laser-focused on lean budgeting and smart spending decisions.
