Retail Sales Rise in July: Most of...

Retail Sales Rise in July: Most of the nation’s big retailers reported modest July sales gains, but analysts said the upcoming back-to-school and fall season would better reflect how consumers are reacting to rising oil prices and a weakening economy. Wal-Mart Stores Inc., the nation’s third-largest retailer, posted a 21% sales gain in July, to $2.4 billion from $1.98 billion a year earlier. The weakest results were seen at general merchandise retailers such as Sears, Roebuck & Co., the nation’s biggest retailer, and K mart Corp., said Janet Mangano, an analyst at Jesup, Josephthal & Co. The Sears merchandise Group said July sales from continuing operations rose 3.7% to $2.52 billion, from $2.43 billion a year ago.

MAJOR RETAILERS’SALES IN JULY

In millions % of dollars 1990 change Sears 2,520 +3.7 K mart 2,270 +12.1 Wal-Mart Stores 2,400 +21.0 J.C. Penney 1,010 +3.2 Dayton Hudson 984 +16.4 May Dept. Stores 607 +9.8 Melville Corp. 554 +9.7 Woolworth* 389 +8.7 Limited Inc. 349 +19.0 TJX** 162 +15.3 Carter Hawley Hale 176 +0.9

* Excludes foreign sales. ** Formerly Zayre Some retailers do not report their sales on a monthly basis, including R. H. Macy & Co. Montgomery Ward & Co., which is privately held, has stopped releasing its monthly sales.