U.S. retail sales tepid in May

Posted June 3, 2010 at 6:42 a.m.

Associated Press | U.S. retailers are reporting tepid business
in May after cool weather and fresh concerns about the economy had
shoppers cutting spending on clothing and other nonessentials. The
reports follow a lackluster April and underscore how fragile the
economic recovery remains.

A mix of stores found business challenging during the month. Department store chain Stage Stores Inc. and teen merchant Wet Seal Inc. both are reporting declines in revenue at stores open at least a year. Costco Wholesale Corp. is reporting a gain slightly below Wall Street expectations.

The measure is a key indicator of a retailer’s health. Another report from Mastercard Advisors’ SpendingPulse showed that clothing sales at mall-based chains fell last month.


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