By  on August 30, 2012

Consumers jumped on back-to-school and fall merchandise in August, helping retailers deliver same-store sales results well in excess of the mostly modest increases expected.

Thomson Reuters said that the median increase for reporting retailers was 3.6 percent versus projections of a 2 percent gain. Only one of the reporting stores, the embattled The Wet Seal Inc., finished the month with a decrease or missed same-store sales expectations. Its comparable-store sales, expected to drop 17 percent, were down 18.3 percent as The Clinton Group, holder of 6.6 percent of its shares, proceeded with an appeal to other shareholders to allow it to seat five directors and pursue strategic alternatives.

 

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