Retailers report sluggish April

Thursday, May 8, 2003 | 9:57 a.m.

NEW YORK -- The arrival of Easter and the winding down of the war in Iraq couldn't lift retailers out of their slump in April -- consumers still nervous about jobs curbed their spending for yet another month.

As the nation's largest retailers reported their monthly sales, discounters and department stores, particularly May Department Stores Inc., again languished.

Wal-Mart Stores Inc., the world's largest retailer, reported slightly lower-than- expected sales at stores open at least a year, known as same-store sales.

Kohl's Corp. had same-store sales that were below analysts' expectations. The retailer cut its first-quarter earnings forecast. One big bright spot was Gap Inc., which continued its comeback, reporting a same-store sales increase almost double what analysts had expected.

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