Retail Sales Dipped in September

2008-10-08 | 10:15

Wal-Mart manages slight gain.

Buffeted by hurricanes and waning consumer sentiment, many U.S. retailers reported a drop in September sales.

On a bright note, Wal-Mart’s U.S. stores posted a 2.4% gain in same-store sales, the figure, just a bit below analysts' expectations of a 2.5% gain.

According to Wal-Mart, sales of discretionary items were "soft." The retailer added that the spat of hurricanes in the U.S. resulted in temporary closures at 341 of its stores, which cut 0.4% from the results for the month.

Elsewhere, same-store sales at Neiman Marcus fell 15.8%, sales at Bon-Ton Stores dropped 4.6% and Dillard's same-store sales plunged 12%.