onsumers apparently shook off their worries about higher gas prices during May, shopping with enthusiasm at stores and malls and giving many retailers surprisingly solid results. A big exception was Wal-Mart Stores Inc., whose low-income consumers are feeling the biggest financial squeeze from $3-a-gallon gas.
As the nation’s merchants began reporting their sales figures early Thursday, winners included Federated Department Stores Inc., J.C. Penney Co. Inc., Limited Brands Inc., AnnTaylor Stores Corp. and Bebe Stores Inc. Gap Inc. and Sharper Image Corp., which continue to struggle with their merchandising strategies, again were the laggards last month.
