Retail Sales Stagnant in July

The nation’s retailers today reported stagnant July sales as consumer spending stalled in face of rising personal debt and higher delinquency rates on credit payments.

Chicago-based Sears, Roebuck and Co., the largest U.S. retailer and the bellwether for the industry, said its sales for the month dropped 0.3% from the same period last year. No. 2 K mart posted a modest 4.5% gain, and third-ranked J. C. Penney Co. said store and catalogue sales declined 0.6%.