August same-store retail sales rise

Houston – According to data compiled by locally based TeleCheck Services Inc., sales tax-free holidays and tax rebates resulted in a 3% increase in August same-store retail sales – the strongest growth since April. The Southeast region led the nation, followed by the Southwest, the Midwest, the Mid-Atlantic, the Northeast and the West.

“August’s moderate 3% jump in same-store retail sales, coupled with the Federal Reserve’s interest rate cuts, should encourage retailers as we approach the holiday shopping season,” says William Ford, TeleCheck’s senior economic adviser.