P.M. BRIEFING : Retail Sales Bounce Back
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NEW YORK — Retail sales generally rebounded in April as consumers returned to stores to shop for Easter and spring items, several of the nation’s biggest retailers reported today.
Many retailers who had a dismal March posted better results last month. Woolworth Corp., whose sales plummeted in March compared to a year earlier, had a 21.1% sales gain in April.
Shoppers again spent most of their money on apparel and lower-priced items while generally shying away from more expensive purchases. Consumers remained burdened by high installment debt and were again cautious about major expenditures.
Sears, Roebuck & Co., the nation’s largest retailer, reported a 3.1% increase over April, 1989. Wal-Mart Stores Inc. again outdistanced other retailers, reporting a 7% increase. J. C. Penney Co. Inc. had a disappointing month after a much stronger March. Its sales fell 2.8%.
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