NEW YORK — A late Memorial Day holiday helped retailers post improved same-store sales in June, but economists were cautious about a prolonged retail rebound.
A weighted composite of 31 retailers reporting monthly sales results Thursday for the five-week period that ended July 3 showed a same-store sales gain of 3.2% — up from 2.7% in May and well ahead of a 4.7% decline in June of last year, noted Kantar Retail, Columbus, Ohio. But momentum could be challenged in coming months, Kantar said, citing its own shopper surveys indicating stalled consumer confidence.
“The June results are positive, but the recovery in retail sales will be challenged in the coming months as long as doubts grow among shoppers,” Frank Badillo, senior economist at Kantar, said in a statement.
Among retailers selling food, BJ’s Wholesale Club , Natick, Mass., posted a monthly comp increase of 3.2% excluding gasoline sales, noting that store traffic improved 5% but average transaction size decreased by 2%. Costco Wholesale Corp. , Issaquah, Wash., said its U.S. same-store sales improved by 1% excluding gasoline.