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WRAPUP 4-US shoppers went for bargains in April rebound

Thu May 8, 2008 1:57pm EDT
 
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(Adds International Council of Shopping Centers data, paragraph 2)

By Justin Grant

NEW YORK, May 8 (Reuters) - U.S. retail sales rebounded in April after the worst March in 13 years, as warmer weather boosted demand for spring and summer apparel, while most discounters shined as cash-strapped consumers hunted for bargains.

April sales at U.S. chain stores open at least a year, a key retail measure known as same-store sales, rose 3.6 percent from the same month last year, according to the International Council of Shopping Centers.

Overall, 68 percent of U.S. retailers reported better-than-expected same-store sales, according to Thomson Reuters data.

April was the best month for retailers since November, said Ken Perkins, president of Retail Metrics Inc.

Warehouse club operators who give discounts to shoppers buying in bulk -- such as Wal-Mart Stores Inc's (WMT.N: Quote, Profile, Research, Stock Buzz) Sam's Club, Costco Wholesale Corp (COST.O: Quote, Profile, Research, Stock Buzz) and BJ's Wholesale Club (BJ.N: Quote, Profile, Research, Stock Buzz) -- performed well.

Many retailers have struggled in recent months as consumers pare spending on less essential items in light of soaring gasoline prices and grocery bills.

Crude oil prices have surged to more than $120 a barrel, keeping gasoline prices high. As of May 2, the average retail price for gasoline was a record $3.6245 a gallon.  Continued...

 

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