Tax Rebate Checks Help Boost Retailer Sales
Thursday, June 5th, 2008Retailers such Wal-mart and T.J. Maxx saw an improvement in sales in April and May with the help of tax rebate checks. Wal-Mart saw same-store sales rise 3.9% while analysts only predicted a 1.6% rise. T.J Maxx same-store sales increased 2% while analysts predicted a 1.8% sales increase.
Other retailers did not do so well. For instance J.C. Penney same-store sales fell 4.4% while luxury retailer Saks Inc. saw same-store sales fall 8.7%.
