Food, Drugs Drive Chain Store Sales

NEW YORK - Sales volume at U.S. chain stores grew in the second retail week of July, thanks largely to healthy food and pharmacy sales at discount stores, Reuters reported this morning.

U.S. chain store sales rose 0.4 percent in the week ended July 20 after a 0.3 percent decline in the previous week, according to the Weekly Chain Store Sales Snapshot produced by the Bank of Tokyo-Mitsubishi and UBS Warburg .

"Food, pharmacy, basics, and home goods drove sales for the week," BTM said. "Sales were generally on plan for retailers."

The Snapshot is compiled using sales data from seven major chains, including JCPenney, Sears, Target, Kmart, Wal-Mart, and Federated Department Stores.
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