Create a free Manufacturing.net account to continue

Retailers Report Modest Gains For May

In the latest sign that Americans are feeling better about the job market and overall economy, stores across the country had a pickup in revenue in May. According to a preliminary tally of 12 retailers by the International Council of Shopping Centers, released Thursday, revenue at stores open at least a year rose 3.2 percent in May from last year.

NEW YORK (AP) -- In the latest sign that Americans are feeling better about the job market and overall economy, stores across the country had a pickup in revenue in May.

According to a preliminary tally of 12 retailers by the International Council of Shopping Centers, released Thursday, revenue at stores open at least a year rose 3.2 percent in May from last year. That's up slightly from a 3 percent gain in April.

The reports came as the Labor Department reported the number of Americans seeking unemployment benefits fell 11,000 last week to a seasonally adjusted 346,000, a level consistent with steady job growth.

Only a sliver of the nation's retailers now report monthly figures, but the data offers a snapshot of consumer spending. Among the best performers were Costco Wholesale Corp. and Stein Mart.

More in Supply Chain