U.S. luxury and teen-oriented retailers on Thursday reported better-than-expected April sales, while discount chains faltered as high gas prices and chilly weather cut consumer spending.
Neiman Marcus Group Inc., Nordstrom Inc. and Macy’s and Bloomingdale’s owner Federated Department Stores Inc. all turned in strong results, while Wal-Mart posted its smallest monthly sales gain since November and rival Target Corp. reported smaller-than-expected sales growth.
