Markdowns Spur Retail Sales
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NEW YORK — The nation’s major retailers today reported improved sales during July, but analysts said the companies resorted to larger-than-usual markdowns to stimulate buying during the normally promotional month.
Sears, Roebuck, the largest retailer, said its sales for the four weeks ended Aug. 2 rose 5.5% over the same period last year. No. 2 K mart Corp. said its sales jumped 15.9%. Sales increased 3.4% at J.C. Penney Co., ranked third, and 11.8% at fourth-largest Dayton Hudson Corp. Fast-growing Wal-Mart Stores Inc., ranked fifth, said sales spurted 41%.
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