NewsSeptember 6, 2001
NEW YORK -- In a first look at the back-to-school sales season, three major retailers on Wednesday reported modest sales gains for August. "My sense is that the back-to-school season is still adversely affected by the onslaught of layoffs," said Jeff Feiner, managing director at Lehman Brothers...
The Associated Press

NEW YORK -- In a first look at the back-to-school sales season, three major retailers on Wednesday reported modest sales gains for August.

"My sense is that the back-to-school season is still adversely affected by the onslaught of layoffs," said Jeff Feiner, managing director at Lehman Brothers.

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Kohl's Corp. and Costco Wholesale Corp. reported gains that fell short of analysts' expectations, while Sears, Roebuck and Co. reported a slight rise in sales at stores open at least a year, known as same-store sales.

Same-store sales are considered the best indicator of a retailer's health.

Most of the nation's largest retailers are expected to report their August sales figures today.

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