Sector Preview: June same-store sales seen up

As rebate-tax checks wane in July, however, analysts are concerned that results might not be sustainable.

"Looking forward, in our view, it will be imperative to track how the consumer holds up post the rebate checks, which unfortunately coincides with the beginning of the back-to-school period," wrote JPMorgan analyst Charles Grom in a note Monday. "If we do see another step-down in consumer behavior, second-half estimates will be at risk almost across the board."