Wal-Mart posted a 0.5% increase, down from its 4.1% average jumpover the last 30 weeks. Target's 1.8% hike was also lower than itsyear-to-date average, at 5%.
Federated Department Stores' 2.4% drop was due to "weakness inback-to-school areas of juniors and young men's, as well as infurniture," says Terry J. Lundgren, the company's chairman, CEO andpresident. Sears saw a 6.1% slide, and Alan J. Lacy, its chairmanand CEO, blamed the lack of a federal tax refund, which Americansreceived last year in August.
The May Department Stores blamed its 5.9% plunge partly on theshift of a pre-Labor Day sales promotion from the last week ofAugust in 2003 to the first week of September this year. Gap Inc.'ssales last month dropped 1%, compared with a 4% year-over-yearincrease in August 2003.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
