Department stores were the sector hit the hardest, falling 2.5%. Kohl's ran into the most trouble, dropping 4.9%, and Macy's Inc. slid 2.7%. Even Nordstrom, which has average monthly gains this year of 7.1%, rose just 2%.
Apparel also experienced decreases as a sector, slipping 0.5%. Ann Taylor fell 8.4%, while Chico's FAS dropped 7.3%. Ross Stores fared better than most, gaining 4%, and Limited Brands increased 3%.
The discount sector fared slightly better, rising 2.1%. TJX Cos. was up 5%, and Target followed with a 3.3% gain. Wal-Mart's discount stores inched up 1.6%.
Wholesale clubs were strong as a group, increasing 6.3%. Wal-Mart's Sam's Clubs was the leader in the sector, shooting up 6.9%, while Costco jumped 6%. BJ's Wholesale rose 5.3%.
ICSC's research team expects sales to improve during the month of July, predicting an increase for the industry in the 2.5% to 3% range.
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