More modest April shopping
Americans went back in April from the March shopping spree, mostly because of Easter was earlier this year. But the spring selling season is ending up being very respectable, an very good sign for the economy.
As merchants was reporting their monthly figures on Thursday, discounters that include Costco Wholesale Corp. and BJ's Wholesale Club Inc. emerged as the biggest winners. Limited Brands Inc. and Macy's Inc. had solid gains. With teen merchants that include Wet Seal Inc. and Abercrombie & Fitch Co. are still struggling with declines.
The figures are based on revenue at the stores that was opened for at least a year and are also considered a key indicator of a retailer's health because they exclude growth at stores that open or close during the year.
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