Signs of worsening recession clear - Sales at U.S. retailers dropped in August for a second straight month
Joe Weinman
Sep. 14, 2008

Sales at U.S. retailers dropped in August for a second straight month and July inventories at American businesses increased the most in four years, Commerce Department reports showed last week.

J.C. Penney Co. and American Eagle Outfitters Inc. promoted discounts on clothes to attract more shoppers during August to counter what may be the worst back-to-school season in seven years.

General Motors Corp. offered all customers the same prices paid by employees, helping boost sales in the second half of the month. GM this month said it will extend the incentive through September and has offered 72-month, no-interest financing on some vehicles since late June.

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