Posted: Sep 3, 2009 6:59 AM by Associated Press
Retailers are reporting sales declines for August as shoppers continue to hold off on back-to-school purchases and continue to focus on necessities.
As merchants report their sales figures Thursday, teen apparel stores reported weakness. Wet Seal Inc. and Hot Topic Inc. both said sales dropped. Labor Day falls a week later this year, so some back-to-school purchases are likely to come later.
Warehouse club operator Costco Wholesale Corp. says sales at stores open at least a year dipped 2 percent, but that was above analyst expectations. Food remains a best seller.
August is expected to be the 12th consecutive month of such declines.