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August Same-Store Sales Weaken
September 05, 2008

August same-store sales growth weakened to 2 percent for about 40 retailers reporting monthly results yesterday, according to TNS Retail Forward. August's result is down from the 2.8 percent sales-weighted composite reported last month and down from the 3.1 percent composite reported in August 2007. August's results were led by stronger-than-average results at warehouse clubs, which were pumped up by gasoline sales. Retailers in all other channels lagged, with the exception of Wal-Mart, dollar stores and a few apparel specialty retailers. "Retail sales are being hurt by shoppers spending less on back-to-school and by the diminishing impact of tax rebates," said Frank Badillo, senior economist at TNS Retail Forward. "The signs suggest that retail spending will resume a weakening trend through the end of the year." In August, one of every five households (20 percent) planned to spend less on back-to-school. About 41 percent of households planned to spend the same as last year on back-to-school, and about one-third of households (34 percent) planned to spend more than last year.

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Video: Inside JCPenney’s Manhattan Mall Store
DDI visited the new JCPenney department store at Manhattan Mall in New York and spoke with store manager Joe Cardamone. Below is video of that conversation paired with a walk-through tour of the new store. For more on the JCPenney store, look out for DDI's November/December issue mailing out at the end of November.



 
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