Retailers Say July Sales Were Sluggish

New York, NY, Aug. 6, 2010--Retailers reported Thursday that sales at stores open at least a year were weaker than expected in July, increasing 2.9% from July of last year, according to a tally by Thomson Reuters.

Discount stores and department stores posted some of the best results, with discounters’ sales increasing 3.9%, and those for department stores up 3.6%.

But nearly two-thirds of all stores reporting sales data missed analysts’ estimates.

Discount stores had the best results among the categories followed by Thomson Reuters. Costco Wholesale reported a 6% gain, while BJ’s Wholesale Club rose 2.8% and Target rose 2%.