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Friday, Mar 29, 2024

Retailers to Post Lackluster June Sales

Retailers will miss the same store sales gains posted last June this year, according to the latest Thomson Financial data. The Thomson Financial Same Store Sales Index is calling for a 1.8 percent same store gain in June, compared to the 3 percent growth posted last year. Excluding Wal-Mart, Thomson is forecasting a 2.6 percent increase in the sector in June. Discount retail, however, is expected to fare better. The discount sector is expected to post a 4.5 percent gain excluding Wal-Mart, compared with a 2.8 percent gain excluding Wal-Mart results for the year ago period. Of the discounters, Target is expected to post a comparable store rise of 3.4 percent and Costco is expected to log a 5.9 percent gain. Wal-Mart has maintained its 0 percent to 2 percent same store sales guidance for the month. Department stores, meanwhile, are expected to see same store sales decline 1.8 percent versus last year’s 3.3 percent gain.

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