Pursuits
U.S. Retailers’ Store Sales Top Estimates on Back-to-School
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U.S. retailers including Gap Inc. and Macy’s Inc. posted August same-store sales that topped analysts’ estimates as consumers took advantage of back-to-school promotions.
Same-store sales at Gap, the biggest U.S. specialty-apparel retailer, climbed 9 percent, beating the average projection for a 5.5 percent gain from analysts surveyed by researcher Retail Metrics Inc. Macy’s, the department-store chain, posted a 5.1 increase in same-store sales, topping the 3.3 percent estimate.