June brings better-than-expected retail sales growth

Eleven U.S. retailers reported a 4.8% same-store sales increase in June, beating a Thomson Reuters forecast of 3.6%, with Gap reporting a better-than-expected 7% jump led by a double-digit increase at Old Navy. The data indicate that overall consumer spending is on the rise, but many merchants have stopped reporting monthly same-store sales in recent years.

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Wall Street Journal (tiered subscription model), The · Reuters

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