News

Retail spending down in April

May 3, 2012

Although Americans were shopping in April, they spent less than retailers expected, according to the Associated Press.

Sales at Costco, Macy's and Target missed Wall Street estimates as colder temperatures, an early Easter and renewed worries about the economy dampened shoppers' enthusiasm to buy, Ken Perkins, president of research firm Retail Metrics LLC, said in the story

The low sales follow a positive March.

"Early results show there was a sequential slowdown from a particularly strong February and March," Perkins said in the story. "Weather cooled and consumer took a bit of a breather. But spending is still decent."

Read more about consumer behavior.