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June 01, 2006
May Sales Beat Expectations
May retail sales came in higher than expected as fuel costs failed to stall consumer spending.
Federated Department Stores reported a 9.2 percent jump in same-store sales, driven by the strong performance of its Macy’s and Bloomingdale’s chains.
Nordstrom also did well, reporting a 7.2 percent gain in same store sales for the month.
Saks Inc. was one of the few high-end chain stores to miss expectations, reporting a slim 1.1 percent gain for May.
Posted by Blacks on June 1, 2006 12:20 PM
