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twitterNation’s retailers report solid sales for May
Thursday, June 2, 2005 | 9:30 a.m.
NEW YORK -- The nation's retailers had generally solid sales last month, overcoming the effects of an unusually cold spring as consumers became more optimistic about the economy and more willing to spend.
As merchants began reporting their May results today, the big winners were luxury stores such as Nordstrom Inc. and teen retailers including Bebe Stores Inc. and Abercrombie & Fitch Co. Wal-Mart Stores Inc., the world's largest retailer, reported sales that matched analysts' modest estimates.
Not all retailers escaped the impact of the unseasonably cool weather. Federated Department Stores Inc. and BJ's Wholesale Club Inc. had disappointing sales amid lower demand for such seasonal items as swimwear and air conditioners.
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