As Shoppers Splurge, Retail Sales Surge
LOS ANGELES — Rising gas and food prices didn’t stop shoppers from storming the malls last month, leading to a surge in sales and continuing the recent momentum in consumer spending — although industry experts doubted the pace will hold up as summer approaches.
Major retail chains reported an 8.9 percent year-over-year gain in April, led by strong sales at discounters and apparel sellers, particularly those catering to teens, according to Thomson Reuters’ tally of 25 retailers.
“Consumers showed resilience in April,” said Ken Perkins, president of research firm Retail Metrics Inc.
LOS ANGELES — Rising gas and food prices didn’t stop shoppers from storming the malls last month, leading to a surge in sales and continuing the recent momentum in consumer spending — although industry experts doubted the pace will hold up as summer approaches.
Major retail chains reported an 8.9 percent year-over-year gain in April, led by strong sales at discounters and apparel sellers, particularly those catering to teens, according to Thomson Reuters’ tally of 25 retailers.
“Consumers showed resilience in April,” said Ken Perkins, president of research firm Retail Metrics Inc. “Easter sales were robust, providing a nice upside boost to the month.”
At the Westfield Century City shopping center in Los Angeles this week, many shoppers said they had loosened their purse strings, spending freely on presents for Mother’s Day and on themselves.