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Reuters
Published
May 26, 2010
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ICSC cuts May US same-store retail sales view

By
Reuters
Published
May 26, 2010

CHICAGO, May 25 (Reuters) - U.S. retail sales in May are so far coming in worse than originally expected, the International Council of Shopping Centers said on Tuesday 25 May, the latest sign that the recovery in consumer spending remains tepid.



ICSC Research said it now expects sales at stores open at least a year to be up 2 percent to 2.5 percent for the industry, citing slower traffic and less spending at discounters and apparel retailers as well as colder weather than last year.

The group had previously forecast an increase of about 3.5 percent.

Sales for many U.S. retailers disappointed investors in April and industry leader Wal-Mart Stores Inc (WMT.N) posted U.S. same-store sales that fell below analysts estimates for the first quarter. (Reporting by Brad Dorfman; Editing by Tim Dobbyn)

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