NEW YORK – Americans shoppers proved resilient in July, driving a key sales figure up at retailers across the country, despite persistent worry about jobs and the global economy.
Results came in better than expected for many retailers, helped by hot weather and summer clearance sales, an encouraging sign as the back-to-school season, the second-biggest shopping season behind the holidays, begins.
A preliminary tally by the International Council of Shopping Centers of 20 retailers found revenue in stores open at least a year rose 4.6 percent in July, higher than the 3 percent to 3.5 percent the ICSC expected.
Summer clothing purchases drove the increase. The sales figure rose 9.2 percent for clothing, the largest monthly increase since April 2011, according to the ICSC.