Retail Sales Rise, Teen and Luxury Lead

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U.S. retail sales rose modestly in May as discount retailers on Thursday reported growth even as unusually cool weather in parts of the country slowed spending on seasonal goods, while some teen-oriented retailers posted soaring gains.


Some luxury chains also blew past Wall Street expectations, as the market for high-end merchandise continues to boom. Analysts had widely predicted anemic sales as chilly weather in parts of the United States hurt demand for summer clothing and pool and gardening gear, while soaring gasoline left less money for discretionary items.


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