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June Gloom Dooms Retail Sales

NEW YORK CITY-Same store sales drop 5.1% as summer goods falter during the rainy, cool month, ICSC says.

By Debra Hazel | Updated on July 09, 2009

NEW YORK CITY-Dreary June weather throughout the United States took its toll on retail sales, with comparable-store sales declining 5.1% from the same month of 2008, according to the International Council of Shopping Centers Chain Store Sales Index.

The coldest June in five years, according to Weather Trends International, clearly hurt sales of seasonal apparel and other merchandise, ICSC reported. If drug store sales are excluded, the Index would have reported a 6.8% drop. In addition, June 2008 saw $28 billion in tax rebates distributed to consumers, boosting sales.

“Despite this continuing dismal sales picture, there were some brighter signs beneath the surface that might be part of the consumer-spending recovery process,” wrote Michael Niemira, ICSC chief economist and director of research. A number of chains reported gains, including Ross Stores (up 1%), TJX (up 4%), Fred’s (up 1%), Baker’s Footwear (up 3.1%), Buckle (up 9.6%) and Aeropostale (up 12%).

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