| Topic: |
Politics > Politics-USA |
| User: |
"Harry Hope" |
| Date: |
10 May 2007 07:30:49 PM |
| Object: |
April retail sales worst ever recorded |
From The Associated Press, 5/10/07:
http://news.yahoo.com/s/ap/20070510/ap_on_bi_ge/retail_sales
Retailers post weak April sales
By ANNE D'INNOCENZIO, AP Business Writer
NEW YORK -
The outlook for consumer spending in the coming months dimmed Thursday
after retailers, their sales hurt by rising gasoline prices and the
slumping housing market, had one of their worst months ever in April.
As retailers released their monthly sales figures, Wal-Mart Stores
Inc. recorded a rare decline — the weakest performance since the
world's largest retailer started publishing monthly sales in 1980,
according to John Simley, a company spokesman.
But April's disappointments crossed all segments of the industry and
included Abercrombie & Fitch Co., Federated Department Stores Inc. and
J.C. Penney Co.
"Consumers are feeling pressured by higher gasoline prices and a
sluggish housing market, particularly low and middle income
consumers," said Ken Perkins, president of RetailMetrics LLC, a
research company in Swampscott, Mass.
______________________________________________
Harry
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