A recent report suggests retailers performed better than anticipated in May, with many Americans taking advantage of heavy Mother's Day promotions.<\/p>\n
Major retailers such as Macy's and Target all noted stronger gains than many analysts had projected. This followed a dismal April, during which retailers posted some of the worst results in nearly three years. The influx of sales was credited to Mother's Day and the launch of new summer styles.<\/p>\n
"The pent-up demand is continuing to pour out a little," Ken Perkins, president of research firm Retail Metrics, told USA Today. "I wouldn't say it's happening in droves. But consumers are updating their wardrobes."<\/p>\n
As the economy continues to improve, retailers expect this trend to continue. According to a report from the Commerce Department, the economy grew at an annual rate of 1.9 percent in the first three months of the year, which means consumers' financial positions are slowly improving.<\/p>\n
Still, many merchants fear that higher commodity prices – namely, gas and food – will discourage consumers from spending more at retail.<\/p>\n","protected":false},"excerpt":{"rendered":"
A recent report suggests retailers performed better than anticipated in May, with many Americans taking advantage of heavy Mother’s Day promotions. Continue reading