NEW YORK (AP) — June sales heated up for stores.
Costco Corp., Fred's Inc. and Stein Mart Inc. were among the retailers that reported their strongest sales gains since January, as shoppers, enticed by warm weather and an improving economy, took advantage of summer discounts.
Revenue at stores opened at least a year — an industry measure of a store's health — rose 3.9 percent in June compared with the same month a year ago, according to a preliminary tally of 12 retailers by the International Council of Shopping Centers. The mall trade group had expected an increase of 3 to 3.5 percent.
The data, released Thursday, offers positive signs for the back-to-school season, which is the second-biggest shopping period behind the winter holidays. June is when stores clear out summer merchandise to make room for goods for fall, so brisk sales mean that stores likely won't be stuck with piles of summer shorts and T-shirts that they need to get rid of.
June's performance was its best performance since January's 4.5 percent gain and showed a gradual improvement since early this spring. The tally was up 3.4 percent in May and 3 percent in April.
