May 10, 2008
Shoppers go for bargains in April rebound
“The apparel story is definitely a surprise to me. I had expected apparel would be weak because of the economic challenges”
By Justin Grant
NEW YORK (Reuters) - Retail sales rebounded in April after the worst March in 13 years, as warmer weather boosted demand for spring and summer apparel, and most discounters shined as cash-strapped consumers hunted for bargains.
Overall, 68 percent of U.S. retailers reported better-than-expected sales at stores open at least a year, according to Thomson Reuters data.
April was the best month for retailers since November, said Ken Perkins, president of Retail Metrics Inc. Read more
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