Aug. 9 (Bloomberg) -- July sales at Wal-Mart Stores Inc. and J.C. Penney Co. exceeded analysts' estimates while those at apparel retailers such as Abercrombie & Fitch Co. fell as customers limited clothing purchases.

Wal-Mart, the world's largest retailer, said sales at stores open at least a year gained 1.9 percent, the high end of its forecast for an increase of as much as 2 percent. J.C. Penney's same-store sales climbed 10.8 percent.

Consumers concerned about the slowdown in the housing market frequented discounters and moderate-price department stores such as Wal-Mart, TJX Cos. and J.C. Penney while cutting back on mall-based retailers. Texas and Florida students are going back to school later, pushing some apparel purchases at teen retailers such as Abercrombie into August.

``The top end did well, the bottom end did well and everything else got crushed,'' said Eric Beder, a retail analyst at Brean Murray Carret & Co. in New York. ``People just aren't shopping because they worry about the economy.''

July sales may have climbed 3.1 percent, the International Council of Shopping Centers said Aug. 7. In July 2006, same- store sales gained 3.9 percent, according to the ICSC.

U.S. retail sales from February through June climbed 2.3 percent, slower than the 3.9 percent gain for the same period in 2006, according to ICSC chief economist Michael Niemira. Some consumers don't feel as wealthy because of declining home values, Niemira said Aug. 6.

Sales of previously owned homes probably will fall 6.8 percent to 6.04 million this year, the lowest since 2002, the National Association of Realtors said yesterday. New-home sales, which account for about 15 percent of the housing market, may decline 19 percent to 852,000, a 10-year low.

Wal-Mart, J.C. Penney

Wal-Mart predicted August same-store sales will increase 1 percent to 2 percent. July sales exceeded the 1.4 percent average analyst estimate from Retail Metrics.

J.C. Penney, the third-largest department-store chain, beat analysts' estimates for a gain of 10.7 percent, according to data compiled by Retail Metrics LLC, a research firm based in Swampscott, Massachusetts.

Macy's Inc., the second-largest U.S. department-store chain, reported July sales fell 1.4 percent, better than the estimate for a drop of 2.4 percent from Retail Metrics.

Shares of Wal-Mart, based in Bentonville, Arkansas, fell 83 cents, or 1.7 percent, to $47.59 as of 9:40 a.m. in New York Stock Exchange composite trading. J.C. Penney dropped $2.11, or 3 percent, to $67.54. Macy's lost 98 cents, or 2.8 percent, to $34.56.

Nordstrom, Costco

Nordstrom Inc. said same-store sales surged 9.4 percent, double the 4.6 percent estimate, helped by an annual event where it sells new fall merchandise at reduced prices. The Seattle- based department-store chain raised its annual same-store sales forecast by two percentage points to 5 percent to 6 percent.

Costco Wholesale Corp., the largest U.S. warehouse club, said July same-store sales climbed 7 percent, exceeding estimates for a 5.4 percent gain.

Abercrombie & Fitch, another teen retailer, reported a decline of 4 percent, missing estimates for a 1 percent decline. American Eagle Outfitters Inc., a clothing retailer that targets shoppers ages 15 to 25, said yesterday same-store sales dipped 6 percent on later school start dates. Results missed analysts' estimates for a gain of 3.1 percent.

``We're just not at a stage where there's anything compelling for the consumer to buy, and the consumer doesn't really feel like buying much,'' Beder said Aug. 6. ``The fall season will be very difficult outside of back-to-school.''

Gap, Limited

Gap Inc., the largest U.S. clothing retailer, posted a July comparable-store decline of 7 percent, missing estimates for a 4.8 percent drop.

Limited Brands Inc., the owner of Victoria's Secret lingerie stores, said same-store sales decreased 3 percent, missing analysts' estimates for a 0.8 percent drop.

Women's clothing retailers Bebe Stores Inc., Chico's FAS Inc. and AnnTaylor Stores Corp. all reported same-store sales declines that trailed analysts' estimates. AnnTaylor's results were hurt by slow customer traffic, a soft economy and discounting, the company said in a statement.

Charming Shoppes Inc., the largest U.S. seller of clothes for plus-sized women, yesterday said second-quarter profit fell by about half as customer traffic at stores declined, and poor sales of spring and summer merchandise forced the company to cut prices. Consumer spending may slow in the second half of the year, said the retailer, which operates the Lane Bryant chain.

The Standard & Poor's 500 Retailing Index, which has 29 members, has dropped 2.3 percent this year through yesterday, trailing the gain of 5.6 percent for the S&P 500.

To contact the reporter on this story: Heather Burke in New York at hburke2@bloomberg.net.

Last Updated: August 9, 2007 09:48 EDT