Strong April Is Retailers' Easter Present
Source: Associated Press | May 5, 2011
Retailers reported surging April sales that were helped by a late Easter, extending strong spending momentum since late last year. However, some stores that cater to low-income shoppers are starting to warn that their customers are facing increasing pressure from high gas prices. "The Easter bunny delivered the goods. It showed that the consumer was resilient and sales were better than expected despite some growing headwinds," said Ken Perkins, president of RetailMetrics LLC, a research firm. Overall, revenue at major retailers soared a better-than-expected 8.5 percent last month over April 2010, according to the International Council of Shopping Centers. April's increase marked the biggest gain since March 2010 when the index rose 9 percent, helped by a similar Easter quirk. For the March-April months combined, retailers delivered a 5.25 percent increase, marked the strongest spring period since 1999 when it was rose 6.2 percent. [Read this article]
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