Mass Retailers Continue To Hold their Own In Uncertain Economy.

Mass retailers have consistently done better than the traditional department stores in comp-store sales so far this year, and the same holds true for the month of August. Comparable store sales for a large sample of chain stores rose an average of 3.5 percent over August 2000* — compared with 3.4 percent year-over-year increase for July. The discount segment of the industry exceeded that, growing by 5.7 percent.

“We have every reason to believe that IMRA members will continue to hold their own during this economic slowdown,” said IMRA President Robert J. Verdisco. “Tax-rebate checks and tax-free shopping days aided back-to-school sales in August.” About half of taxpayers have received their rebates so far, he said, “so we anticipate that future rebates will continue to stimulate the economy.”

IMRA members reporting positive same-store sales are: Jo-Ann Stores, Inc., 14.1 percent; Family Dollar Stores, Inc., 7.9 percent; Fred’s, Inc., 7.8 percent; Wal-Mart Stores, Inc. 7 percent; Dollar General Corporation, 6.7 percent; Duckwall-ALCO Stores, Inc., 5.5 percent; Target Stores, Inc., 3.9 percent; Shopko Stores, Inc., 2.9 percent; and Kmart Corporation, 0.2 percent.

“As we enter the fourth quarter and the busiest consumer buying season for our sector, we anticipate overall sales increases throughout the holiday season,” said Mr. Verdisco. “Despite economic turbulence, consumers are shopping at mass retail stores for their value, convenience and selection.”

For more information at http://www.imra.org.

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