To: Kenneth E. Phillipps who wrote (29900 ) 6/5/2008 12:11:31 PM From: Hope Praytochange Respond to of 224705 kennyboy spends tax rebate at WMT ??? Consumers Pick Up the Pace in May 6/5/2008 10:50 AM ET Consumers shopped more in May after tax rebates hit the mail, helping many retailers see stronger than expected sales for the month. At the same time, many signs showed that people are focusing on food and gas rather than frivolous items. A weak economy, combined by rising food and gasoline prices, have put significant pressure on consumers. Discount retailer Wal-Mart Stores Inc. (WMT) announced that sales at established locations rose nearly 4% from last year, aided by strong sales of grocery, health and wellness and entertainment products. The company also saw benefits from the government's economic stimulus checks. Low-price retailers such as Wal-Mart were expected to fare better than the rest of the sector during the uncertain economic climate, as consumers search for deals in an attempt to save money. Meanwhile, T.J.X Companies Inc. (TJX) posted May 2008 sales of $1.45 billion, 6% higher than the previous year's sales of $1.37 billion. Consolidated comparable store sales for the month, rose 2% over last year. Costco Wholesale Corp. (COST), an operator of membership warehouses, announced a rise in its same-store sales for May, influenced by the effect of gasoline price inflation. The Issaquah, Washington-based company said total company comparable sales for the four-week period grew 9%, with a rise of 7% in U.S. division and 15% growth in International division. At the same time, Target Corp. (TGT) reported that its net retail sales for the four weeks ended May 31, 2008 increased 5.5% to $4.564 billion from $4.325 billion for the four weeks ended June 2, 2007. Comparable store sales for the month of May decreased 0.7%. Meanwhile, J. C. Penney (JCP) on Thursday reported a 4.4% decrease in May comparable store sales. Total sales for May decreased 2.4% to $1.34 billion from $1.37 billion in the previous year period. For the seventeen-week period, total sales fell to $5.4 billion from $5.7 billion in the year-ago period. Comparable store sales for the period was down 6.6%. Gap Inc. (GPS) reported net sales of $1.09 billion for the month of May, down 8% from net sales of $1.19 billion for the same period of 2007. The company's comparable store sales for May 2008 decreased 14%, compared with a 3% decrease for May 2007. Luxury goods seller Nordstrom Inc. (JWN) reported preliminary sales of $716 million for the month of May 2008, an increase of 12.2%, compared to $638 million reported in the prior year period. Same-store sales rose 10.9%, which was positively impacted by the earlier start date of the Half-Yearly Sale for Women and Kids. Teen retailer American Eagle Outfitters Inc. (AEO) reported total sales for the four weeks ended May 31, 2008, that increased slightly to $200.0 million from $199.2 million for the four weeks ended June 2, 2007. Comparable store sales decreased 9% for the month of May, compared to a 5% increase for the same period last year.