Sales at U.S. chain stores finished June below May’s growth pace, as retailers failed to see strong business after the middle of the month, a report said Wednesday.
Sales at major retailers increased by 3.3 percent on a year-over-year basis for the week ended June 26, slightly up from the preceding week’s 3.2 percent pace, said Redbook Research, an independent company. Sales in June were down 0.2 percent compared with May.
“Sales were below plan in the final week of June, making for a disappointing, though not particularly surprising sub-performing month,” the report said.
Redbook said that it expects sales in July will show some volatility as retailers clear out summer goods ahead of the Fall. The group expects year-over-year sales growth in July of 4.0 percent and a 0.7 percent increase compared with June.
The Redbook data are compiled from a sample of same-store sales at general merchandise retailers representing about 9,000 stores. Same-store sales measure revenue at stores open at least one year.
