Stimulus to Old Navy stores

Well the numbers for last month (June) are in and most economists believe stimulus checks got spent at discount stores like Old Navy stores. Other stores like American Eagle and Hollister, i.e. specialty dress stores, were reportedly down in sales compared to previous years; which isn't unlikely when compared to the rest of the economy. Of course it appears that the super-monopoly chain Wal-Mart had an increase of over 4 percent. Excluding Wal-Mart the retail industry was reported to have about a 2 percent increase in sales; this is a good sign that the consumer actually spent their tax checks and didn't just save them.