WKYT | Lexington, Kentucky | News

US retailers report May sales declines

Many U.S. retailers are reporting sales declines in May as shoppers continue to shop cautiously.

**FILE** This Nov. 22, 2008 file photo shows shoppers pushing their carts through the toy aisles at the Costco in Cranberry, Pa., Butler County. With holiday sales shaping up to be the lowest in years, possibly the worst since the industry began annual comparisons in 1969, retailers say they're taking consumers' demands for good deals seriously. (AP Photo/Keith Srakocic)

NEW YORK (AP) - Many U.S. retailers are reporting sales declines
in May as shoppers continue to shop cautiously.
Costco Wholesale, Hot Topic and Stage Stores are all reporting
drops more than analysts expected. However, The Buckle says sales
rose above expectations.
Two factors might weigh on May results. A year ago, sales
benefited from fiscal stimulus checks. And Wal-Mart Stores Inc.,
which has recently reported positive results, stopped issuing
monthly sales data as of this month. That is likely to hurt overall
results. Analysts expect a 4.1 percent drop.
Same-store sales, or sales at stores open at least a year, are a
key indicator of retailer performance because they measure growth
at existing stores rather than newly opened ones.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

WKYT

2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 46904977 - wkyt.com/a?a=46904977
Gray Television, Inc.