Cause of rebound???
Wednesday September 5, 2:49 pm Eastern Time
August same-store sales rise 3.0 pct - TeleCheck
HOUSTON, Sept 5 (Reuters) - Sales generated from stores open at least one year -- or same-store sales -- rose 3 percent in August, as back-to-school shopping benefited from tax-free holidays and tax rebates, according to data compiled by TeleCheck Services Inc..
The increase is the strongest growth since April of this year, a survey by the large check acceptance company showed. TeleCheck is a unit of First Data Corp. (NYSE:FDC - news).
The Southeast region led the nation, followed by the Southwest, the Midwest, the Mid-Atlantic, the Northeast and the West, TeleCheck said.
The TeleCheck Retail Index is based on a year-over-year, same-store comparison of the dollar volume of checks written by consumers at more than 27,000 of TeleCheck's 272,000 subscribing locations. Compiled on a calendar basis, TeleCheck's index is based on a broad cross-section of retailers nationwide.
Checks account for about one-third of retail spending and remain second only to cash as the most popular method of payment. |
