Retailers See July Sales Growth on Back-to-School Spending

U.S. apparel retailers posted July comparable store sales growth as the back-to-school shopping season kicked off. Stein Mart reported a 0.8% rise in July comparable store sales, helped by sales that trended higher in the second half of the month, driven by early fall receipts. Meanwhile, L Brands, Cato, Zumiez and Buckle all reported comparable store sales and net sales growth during the month. The National Retail Federation expects $75 billion to be spent on back-to-school shopping, the second biggest spending season of the year. It says, 'Retailers will do their best to help mom and dad find smart ways to shop for their growing children or college students.' TheStreet's Brittany Umar reports from New York.