Retail Sales Off; Bargains Seen

Major U.S. retailers, with few exceptions, suffered a drop in April sales from last year’s levels, and analysts said the slump will probably unleash a flood of markdowns.

Department store sales fell an average of one-tenth of a percentage point from last year, when a late Easter shopping period added a welcome boost, analyst Edward Johnson of Johnson Redbook Service said. Seasonally adjusted for the early Easter, sales rose a thin 1.9%. Analysts said women’s wear sales generally declined 10% to 20%.