September 04, 2008
Retailers report sluggish August sales
The Associated PressMany of the nation's retailers are reporting a sluggish start to the back-to-school season as shoppers focused on buying essentials in August amid persistent worries about high gas and food prices, a slumping housing market and a weak job market.
As merchants report their August sales results Thursday, discounters such as Wal-Mart Stores Inc. were among the few bright spots. But mall-based apparel stores and department stores such as Stage Stores Inc., Saks Inc. and Wet Seal Inc. recorded same-store sales declines.
Same-store sales, or sales in stores open at least a year, are considered a key indicator of a retailer's health.