Spots 'n' Dots


UPDATED FOR SEPTEMBER 5, 2010


	RETAIL SALES RELATIVELY STRONG IN AUGUST TAX-FREE HOLIDAYS GIVE CHAINS A BOOST Tax free holidays in almost 20 states (up from last year’s 13) and deeper discounting helped many retail chains report larger sales gains in August than had been expected. There had been published reports that back-to-school sales were sluggish, but that did not appear to be borne out by the monthly results. Discounters seemed to take the greatest advantage of the trends. Costco’s same store sales rose 6% domestically in August (5% without gasoline sales). BJ’s Wholesale Club’s same store sales increased 2.4%. Traffic was up but people spent less than last year, indicating an increased level of discounting. Target same store sales were in positive territory, +1.8%, compared to last year’s 2.9% decline. Back-to-school purchases were strong, but the chain indicated that consumer electronics sales were lagging. TJX Companies saw its comparable store sales rise 2%. The chain says customer traffic continues to increase. Stein Mart same store sales were up a whopping 8.6% during the month. The retailer reported that home section sales were its strongest category. Kohl’s, which has had few bad months, said it same store sales rose 4.5% in August, slightly better than expected. It also reported strong sales in home goods, as well as men’s clothing and shoes. Read the full story in today's issue of Spots n Dots.