Retail Sales Heat Up as Summer Sends Shoppers to the Stores

Traditional grocery stores losing business to the dollar stores, discounters and wholesales clubs.
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The warm weather finally got consumers to shake off those winter blues and pull out the wallet. The ICSC-Goldman sachs chain store sales index was released this morning and sales jumped a solid 2% and year over year the sales increased 4.1%. Most retailers posted hefty gains across the board as Department stores, discounters, dollar stores and wholesale clubs all delivered year-over-year gains in business, apparel and furniture stores came in with strong gains. The weak spot was traditional grocery stores. Redbook chain stores sales also reported a year-over-year increase of 3.3%.