Retailers Report Sales Gains
Retail sales accelerated a bit in May, several of the nation’s major retailers reported today, and financial analysts said that could mean a long-awaited turnaround in consumer spending is beginning.
Sears, Roebuck & Co., the largest retail chain, said its sales for the month rose 3.5% over the year-ago period last year. No. 2 K mart Corp. had an increase of 5.1%; J. C. Penney Co., the third-largest retailer, had an 8.4% sales increase, and No. 4 Dayton-Hudson reported a 9% gain.