Discount merchants benefit from high sales in June - Eliza Popescu

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1 pt	Discount merchants benefit from high sales in June
	Jul 11, 2008 03:50 PM UTC

Eliza Popescu

Return	Risk
-60.51%	MID

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Symbol	Sentiment	Start	Return	Closed
AEO	n/a
JWN	n/a
COST	n/a
BJ	n/a
WMT	n/a

Via BloggingStocks:

Filed under: Forecasts, Products and services, Consumer experience, Wal-Mart (WMT), Costco Wholesale (COST), Economic data, Nordstrom, Inc (JWN)

Some of the country's largest retail chains had good June sales, benefitting from consumers looking for a place to spend their tax rebates, but this was not the case for higher-priced department stores. Retailers offering big discounts were among the privileges ones as consumers chose to stay away from high prices.

Consumers spent on the basics, looking for bargains, boosting sales at some companies like Wal-Mart (NYSE: WMT), but resulting in losses for the others like Nordstrom (NYSE: JWN) and American Eagle (NYSE: AEO). This confirmed that retailers will face further weak demand even during the back-to-school shopping season, and more deep discounts will be needed.

As June is considered a key month for sales, merchants were...

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AMERICAN EAGLE OUTFITTERS INC (AEO)

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