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June retail sales top forecasts

from Los Angeles Times

Retailers beat June Gloom last month, delivering surprisingly strong sales results thanks to lower gas prices, widespread discounting and warm weather, which led many shoppers to hit the stores for summer clothing. Major chain stores posted a 6.5 percent year-over-year increase in sales, better than the 4.9 percent that analysts had been expecting, according to Thomson Reuters' tally of 25 retailers. Every retail category, including discounters, department stores and apparel sellers, posted gains that beat estimates. more

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