In this July 31, 2013, photo, school uniforms by Izod are displayed at JC Penney in New York. Shoppers, worried about their finances, showed they were more interested in buying discounted summer merchandise in July than in picking up new fall clothing for their children, according to figures released Thursday, Aug. 8, 2013. (AP Photo/Mark Lennihan)
NEW YORK (AP) — Shoppers are holding off on back-to-school shopping, and those who delay long enough might be rewarded with some steep discounts from desperate retailers.
Revenue at stores open at least a year — an industry measure of a retailer’s health— rose 3.5 percent in July, the slowest pace since March, according to a tally of 11 retailers by the International Council of Shopping Centers. The figure, which excludes drugstores, was below a 5.5 percent increase in June.
Costco Wholesale Corp., typically a strong performer, was among the retailers reporting disappointing figures.
Many stores were already offering discounts and other come-ons to get shoppers to spend on the new shipments of fall clothing Login to read more