Retail Sales Growth Remains Sluggish

Price cuts and special promotions boosted business at stores last month, but sluggish economic conditions continued to restrain overall retail sales growth, according to results released Thursday.

Several of the nation’s largest retailers posted better June sales than May’s disappointing tallies.

Despite the rebounds, retail analysts say the industry has been facing a difficult period because consumers have been losing confidence in their financial well-being and have grown more cautious about spending.

MAJOR RETAILERS’ SALES Sales for the five-week period ending July 7, except as noted.

In millions % Of dollars 1990 change Sears 3,260 +3.7 K mart* 3,080 +13.7 Wal-Mart Stores** 2,610 +28.0 J.C. Penney 1,310 +5.3 Dayton Hudson 1,260 +11.8 May Dept. Stores 872 + 8.0 Melville Corp. 735 +13.5 Woolworth*** 474 +8.7 Limited Inc. 446 +15.0 TJX 227 +21.4 Carter Hawley Hale 247 + 1.0

* For the five-week period ending July 4. ** For the month of June. *** Excludes foreign sales.