Rise in Retail Sales May End With June Gains, Analysts Say
- Share via
NEW YORK — The nation’s major retailers today reported that store sales rose modestly in June, but analysts said the month’s solid performance may be the last in an increasingly lackluster year.
While Wall Street analysts said the June gains will help retailers salvage respectable profits in the second quarter, the rest of the year looks more bleak as recession fears spread and comparisons with 1988’s strong results become more difficult.
“Retailers will be up against big numbers in the second half. It’s going to be harder for them to improve margins,” said retailing analyst David Williamson of Advest Group Inc.
Sales at Sears, the nation’s largest retailer, gained 3.6% last month, while they rose 2.3% at K mart, the second-largest merchandiser. Same-store sales at J. C. Penney gained 5.6%. Specialty apparel retailers Gap Inc. and The Limited Inc. made same-store sales increases of 13% and 12%, respectively.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
