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Modest May gains at major retailers despite slow job market
New York retailers posted only modest May sales gains as rainy weather and high unemployment restrained consumer spending. Wal Mart reported 2.1 percent same store sales growth, Gap 10 percent, while Sears saw a 1.9 percent drop in local store sales and 1.3 percent fall overall. Analysts noted the weak job market and cautious shoppers curtailing a solid rebound.
MENTIONED IN THIS ARTICLE
New York
Michael Niemira
Bank of
Tokyo-Mitsubishi
Wal-Mart
Sue Gap Inc
Gap
Sears, Roebuck and Co
Inlysts
Kurt Barnard
Barnard
Montclair, Nal
Main Street