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New York News

Consumers give stores some relief but still spend cautiously

May 8, 2008

By ANNE D'INNOCENZIO, AP Business Writer

NEW YORK (AP) - Consumers gave some of the nation's retailers a little relief in April after months of dismal sales, gravitating toward less expensive discounters and wholesale clubs but generally still shying away from stores selling clothes and other non-necessities.



Monthly sales reports issued Thursday were better than expected, but still pointed to a consumer contending with rising gas prices, sagging home values and worries about jobs. Wal-Mart Stores Inc. and Costco Wholesale Corp. were among the top performers last month, while most mall-based apparel stores struggled.



"Consumers are focusing on value and price points and stretching their dollars," said Ken Perkins president of RetailMetrics LLC, a research company in Swampscott, Mass. "They are feeling the pinch on multiple fronts.

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