US Retailers Report May Sales Declines

MAE ANDERSON

NEW YORK (AP) — Although consumer confidence may be increasing, it's not showing up at the cash register yet. Many retailers posted disappointing May sales on Thursday, and food and necessities remained high on shoppers' lists.

According a Goldman Sachs/ICSC tally, overall same-store sales fell 4.6 percent, worse than the 3 percent drop predicted.

The lower-than-expected results did not include Wal-Mart stores, which in recent months has boosted total results but has stopped reporting monthly figures.

April's same-store sales figures included Wal-Mart and edged up. But excluding the world's largest retailer, May was the 10th straight month of same-store sales declines, according to a tally by Goldman Sachs and the International Council of Shopping Centers.

The results come amid faint signs that the gloom of recession is lifting. On Thursday, the Labor Department said the number of Americans on the unemployment rolls fell slightly for the first time in 20 weeks, while the tally of new jobless claims also dipped.

In May, the Conference Board's Consumer Confidence Index rose to its highest level since September. And several retailers including BJ's and TJX Cos. indicated traffic improved in May.