Shoppers cautiously pushed up spending in May

By: Associated Press Email
By: Associated Press Email

The head of a retail research firm says Americans are updating their spring wardrobes and that has boosted May's retail sales.

Ken Perkins of Retail Metrics LLC says it isn't "happening in droves," but he says pent-up demand is pouring out a little.

Major retailers including Target, Macy's and Limited Brands all posted bigger-than-expected gains from a year ago. T.J. Maxx, says its sales rose 8 percent, easily topping the 5.3 percent analysts had forecast.

Nordstrom says sales at stores open at least one year rose 5.3 percent, better than the 4.7 percent jump analysts expected.

Kohl's reports revenue fell 4.2 percent, more than Wall Street expected. Analysts, on average, had expected a 1.2 percent decline.

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