Update: Retailer Sales Rise Modestly but Miss Expectations

Updated from 2:22 p.m. EDT

Retail sales rose modestly in May for many of the nation's largest store chains, but overall growth was slower than expected as American shopping habits continued to get dented by rising interest rates and higher gasoline prices.

Results from many retailers indicated that warmer weather in most of the country and discounts and promotions for summer-related goods did little to spur consumers' enthusiasm.

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