A moderating economy and cooler weather gave consumers little incentive to shop last month and left retailers with tepid sales for the second month in a row. The later arrival of Easter this year also hurt March business.
As the nation’s merchants reported their monthly results Thursday, Wal-Mart Stores Inc., J.C. Penney Co., Gap Inc., Abercrombie & Fitch Co. and Sharper Image Corp. were among the disappointments. Bright spots were wholesale club operator Costco Wholesale Corp. and Nordstrom Inc., both of which reported sales results that beat Wall Street expectations.
