29 June 2004, 16:57  US chain store sales sluggish in week

Sales growth at U.S. chain stores slowed further in the latest week, as rainy and cool weather dampened retailers hopes for a strong month, a report said on Tuesday. Sales at major retailers increased by 3.2 percent on a year-over-year basis for the week ended June 26, down from the preceding week's 4.7 percent pace, said Redbook Research, an independent company. Sales in June were flat compared with May. "Retailers blamed the weather, noting that untypically cool and rainy conditions had cut into their seasonal business," the report said. Both department stores and discounters reported that the weather cut into their sales of summer goods. However, food and household items continued to roll off shelves. The Redbook data are compiled from a sample of same-store sales at general merchandise retailers representing about 9,000 stores. Same-store sales measure revenue at stores open at least one year.|||www..com

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