Same store sales at department stores posted a gain of 5.8 percent in June over the prior-year period, beating analyst estimates of 5.1 percent, according to Thomson Reuters.  Total retail sales in June were up 3.1 percent compared with June 2009, slightly lower than estimates compiled by Thomson Reuters.  One analyst described the total retail number as “lackluster at best,” and the report suggests that consumers at both the high and low ends of the retail spectrum were still skittish about spending.  Sales at discount stores were either up only slightly or flat, while sales at luxury stores declined 3.9 percent in June compared with last year.

“The government also indicated that many consumers were holding back. Outstanding consumer credit in May declined for the fourth consecutive month, falling by $9.1 billion, or 4.5 percent, the Federal Reserve said on Thursday. That was much sharper than the $2.3 billion decrease economists surveyed by Bloomberg News had expected.”  The New York Times Jun. 9, 2010