Retailers miss targest as the last batch of government stimulus checks were sent out

(MarketWatch) U.S. retailers, led by Wal-Mart Stores Inc., reported disappointing July sales as the last batch of government stimulus checks were sent out and cash-strapped consumers remained cautious about discretionary purchases.
Of 36 retailers that have reported July sales, 61% have missed estimates, according to Thomson Reuters.

Clearance sales, tax holidays and a slow start to the back-to-school season failed to give the lift that retailers had hoped for. Consumers are still facing high food costs and gasoline prices, which are leading them to reduce trips to malls and to consolidate purchases in one-stop trips.

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