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TJX, Ross continue discounter dominance
FRAMINGHAM, Mass. and PLEASANTON, Calif. — Fashion discounters continue to thrive in this economy, with TJX and Ross Stores continuing to report impressive monthly sales results.
TJX reported June sales of $2.3 billion, an increase of 9% over the $2.1 billion achieved during the same period last year. Consolidated comparable-store sales for the five-week period increased 7% over last year.
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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.