Retail same-store sales held steady with a 4.9% gain in August as retailers reported mostly solid back-to-school results at the same time sales at department stores were hurt by the impact of Hurricane Irene and weaker spending plans by shoppers, Kantar Retail reported on Thursday.
Target last week announced the donation $250,000 in cash and product to assist with Hurricane Irene relief efforts, pushing the total amount the company has committed to domestic disaster relief to more than $1 million.
Toys“R”Us announced that its Children’s Fund will make a $200,000 donation to the American Red Cross to support relief efforts in the aftermath of Hurricane Irene.
Sears and Kmart stores announced that they are supporting emergency relief efforts in a dozen states to help residents recover from Hurricane Irene’s damaging winds and floodwaters.
Home Depot and Lowe’s may receive a 1% bump to their third-quarter results as a result of Hurricane Irene sales, according to an analysis provided by MarketWatch.