08/06/2012 02:58 pm ET

The Best Time For Back-To-School Shopping

About 80 million American children -– from preschool to college -– will return to school in August or September, and between now and then, they will need to buy school supplies and clothes.

Retailers are hoping for even bigger sales this August than during the same month last year, when Americans spent $7.7 billion at family clothing stores and $2.4 billion at book stores — the best sales month of the year for books and the third best month for clothes, according to the U.S. Census Bureau.

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