Sep 4, 2008
Many retailers report sluggish August sales
Many of the nation's retailers struggled with a sluggish back-to-school season, though Wal-Mart posted higher August sales Thursday as shoppers focused on buying essentials amid persistent worries about high gas and food prices.
As merchants announced their August sales results, Wal-Mart Stores Inc., the world's largest retailer, reported a solid gain that beat Wall Street forecasts as consumers stick to low-price operators. But mall-based apparel stores such as Wet Seal Inc. and Limited Brands Inc. remained in the doldrums. And high-end retailers Saks Inc. and Nordstrom Inc. posted weaker results as their affluent customers start to feel pinched.
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