Aggressive back-to-school promotions paid off for retailers in July with an unadjusted 3.1% boost in sales year-over-year, the National Retail Federation reports. But even that good news was tempered, according to an NRF spokesman.
“Household spending remains tepid amid concerns about economic stability,” NRF Chief Economist Jack Kleinhenz said in a release. “Current data on the economy is mixed, which signals that retailers will continue planning with caution until a long-term trend can be established.”
The full story, along with more spending figures, starts HERE.