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Discounting lifts June sales
New York City -- Most retailers surprised Wall Street with better-than-expected monthly sales results in June, as bargains led shoppers to spend more. June is the second most important month on a retailers' sales calendar behind December. It is June that stores typically clear out summer merchandise to make room for fall goods.
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With flat June sales, Fred's expects Q2 to be at low end of projected range
MEMPHIS, Tenn. — Fred's on Thursday reported sales of $179 million for the five weeks ended July 2, representing a relatively flat 0.1% increase, compared with the year-ago period.
Comparable-store sales for the month dropped 0.7%, compared with an increase of 1.7% in the same period last year.