Mixed Retail Sales In May As Consumers Tighten

The nation's largest retailers mostly recovered in May after April's disastrous sales, but the results reported Thursday were choppy and provided evidence that the consumer is tightening her purse strings.

With 33 of 50 retailers reporting at Thomson Financial, half missed expectations of same-store sales results, the industry's growth benchmark of receipts rung up at stores open longer than a year.

Only 2% met forecasts while another 43% beat them.

"This month is really a store-to-store and operating-execution issue rather than a broad-based story," said Ken Perkins, president of Retail Metrics. " People were out shopping at their favorite stores."

Read Full Article from CNNMoney.com

- Posted: 2007-06-07 10:16:58

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