U.S. Retail Sales Fall Short of Forecasts

Sales momentum for retailers slowed in April. The 19 chains tracked by Thomson Reuters reported a thin 0.8 percent increase in sales at stores open at least a year, missing the 1.5 percent gain that analysts were expecting. Combined with strong sales at the start of the year, the lackluster April results indicated that an early burst of consumer spending did not last long. While projections were that consumer spending would continue to accelerate, there are signs that it may be slowing, said Alison Jatlow Levy, a retail strategist at the consulting firm Kurt Salmon. However, she said, it