Divergence In Retail Results Reflects Contrasting Impact Of US Unemployment

The latest results posted by US retailers continue to suggest that while upmarket shoppers are feeling more affluent, the country's lower income consumers continue to feel the effects of the economic slowdown. Upmarket retailer Whole Foods Market has reported that for its fiscal third quarter, ending July 4 2010, its same-store sales increased by 8.8%. In contrast, discount focused retailer Supervalu reported a 7.2% decline in same-store sales for the three months to June 19, while mid-market focused Safeway reported a 2.5% decline over the same

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