MIKE ARMSTRONG: Coming up: May retail sales are out, and the chains are reporting their results today. We’ll tell you if Americans got back to doing what they do best: Shopping. Still no buyer for
MIKE ARMSTRONG: We’ve been waiting to see if those economic stimulus checks might convince people to go shopping. It looks like not all of the money is going into the gas tank. Today, many of the biggest retail chains released their sales for May, and Thompson Financial says most beat analyst expectations. Locally, Mothers Work, the company that sells maternity wear, said that same-store sales were up 4.3% over May 2007. Rite-Aid, the Camp Hill drugstore chain, said same-store sales rose 1.3% in May. You can buy all kinds of things in drugstores now, but prescriptions still accounted for 67% of Rite-Aid’s May sales. It was not a good month for Bon-Ton Stores. The
So far it’s no-sale for the Tropicana Casino in
Worried all those condo for-sale signs in
That’s it for today. At the Inquirer, I’m Mike Armstrong for Philadelphia Business Today.