Retailers, consumers and prices
Check Out Line: No tax = more shopping
Many states that levy sales tax on clothing offer a short break on the tax in the summer, which, in turn, spurs back-to-school shopping.
Ten states, including Virginia, offered shoppers a chance to buy tax-free last weekend, with most states offering a tax break on clothing up to $100 per item, FBR Capital Markets noted in a new report.
Their analysts saw “some of the strongest” surges this year in customers visiting stores and buying.
The weekend came right after retailers, in general, posted a decline in July sales at stores open at least a year. August’s same-store sales could get a boost since some tax-free weekends moved into August after landing in July last year.
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