Retail Sales, May | featured news

U.S. retail sales declined in April and May, pulled down by a sharp drop in gas prices. But even after excluding volatile gas sales, consumers barely increased their spending... Americans did spend more in May on big purchases. Sales of cars, furniture and appliances all increased. That suggests consumers may be gaining more confidence in the economy.

Dillard's misses estimates, but Saks cruises past expectations.

Spending fell 1.2%, the biggest dip in eight months. Auto sales were down 1.7%. Retail sales plunged in May by the largest amount in eight months as consumers slashed spending on everything from cars to clothing.

The number of newly laid-off Americans filing jobless claims fell more than expected last week and retail sales grew in May for the first time in three months, fresh evidence that the worst of the recession may have past.

AP - Many U.S. retailers are reporting sales declines in May as shoppers continue to shop cautiously.