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Retailers Report Sluggish July Sales
Aug 9, 10:15 PM (ET)
By ANNE D'INNOCENZIO
NEW YORK (AP) - The sluggish sales that have dogged the nation's retailers this year are the result of two quite different sets of problems: Consumers are cautious - they're paying more for gasoline and watching their home values fall. And, the stores just don't seem to have the merchandise that people want to buy.
As retailers reported generally disappointing July sales results Thursday, it was clear that the weakening housing market and more expensive gas had shoppers limiting their trips to the mall and, when they did go, buying tentatively, following a pattern that began back in February.
But analysts say stores can't blame all their problems on macro-economic conditions. Even teen retailers like Pacific Sunwear of California Inc. (PSUN) and Wet Seal Inc. (WTSLA), which tend to be least vulnerable to the whims of the economy, had a bad month. That suggests to analysts that stores are not serving up the most exciting products.
http://apnews.myway.com/article/20070810/D8QTSL600.html
Not sure how they come to the second conclusion, toppers advise maybe ?
Aug 9, 10:15 PM (ET)
By ANNE D'INNOCENZIO
NEW YORK (AP) - The sluggish sales that have dogged the nation's retailers this year are the result of two quite different sets of problems: Consumers are cautious - they're paying more for gasoline and watching their home values fall. And, the stores just don't seem to have the merchandise that people want to buy.
As retailers reported generally disappointing July sales results Thursday, it was clear that the weakening housing market and more expensive gas had shoppers limiting their trips to the mall and, when they did go, buying tentatively, following a pattern that began back in February.
But analysts say stores can't blame all their problems on macro-economic conditions. Even teen retailers like Pacific Sunwear of California Inc. (PSUN) and Wet Seal Inc. (WTSLA), which tend to be least vulnerable to the whims of the economy, had a bad month. That suggests to analysts that stores are not serving up the most exciting products.
http://apnews.myway.com/article/20070810/D8QTSL600.html
Not sure how they come to the second conclusion, toppers advise maybe ?
