Thursday, June 09, 2005

Memorial Day spurs sales

NEW YORK - With the nation's department stores getting a lift from strong Memorial Day sales, which offset some weakness at mass merchants, same-store retail sales came in modestly ahead of plan during the first week of June, rising 3.3 percent and besting a target of 3.2 percent growth.

Same-store sales in full-price department stores climbed 2.8 percent, easily exceeding targeted growth of 2.4 percent. But discounters missed their target during the week, with sales rising 3.6 percent, just shy of a targeted 3.7 percent increase.