Retailers, consumers and prices
Check Out Line: More bad news for U.S. retailers in July
Check out the expected drop in July same-store sales for U.S. retailers.
July typically offers retailers a chance to bolster second-quarter profits by selling new autumn merchandise, but they likely got little boost this year from back-to-school sales as cool weather, a weak job market and a lack of tax-free holidays has analysts expecting an 11th consecutive drop in monthly same-store sales.
Consumers have shown a penchant for skipping full-price items to stretch their budgets amid the recession.
The industry will be looking for signs of stabilization in the results as consumer confidence may be bottoming out, but the messages have been mixed. On Tuesday, U.S. consumer spending rose slightly more than expected in June, but personal incomes saw their biggest drop in four-and-a-half years.
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