Report: July sales to inch up slightly

New York City Analysts on Monday said July retail sales reports, due Thursday, will likely rise only slightly, as results will reflect heavy back-to-school discounts, the Associated Press reported.

In a note to investors, Wedbush Morgan analyst Betty Chen said that July revenue in stores open at least a year will likely be in line with "muted" analyst expectations.

"Soft macro conditions and consumers delaying spending until back-to-school shopping in August led most specialty retailers to deepen discounts as the month progressed in order to move any excess units," Chen wrote.

Another analyst, Caris & Co.’s Dorothy Lakner was slightly more positive.

"We anticipate improved trends in traffic versus June, given warm weather to spur summer clearance with new back-to-school assortments arriving mid-July and the real heavy-duty back-to-school promos starting this past weekend," she wrote.