Financial Times FT.com

US stores hit as shoppers scale back

By Jonathan Birchall in New York

Published: May 10 2007 15:16 | Last updated: May 10 2007 20:22

Continuing economic pressures on consumers combined with cold weather and the impact of an early Easter to give leading US retailers a miserable April, according to same-store sales figures published on Thursday.

Ken Perkins, head of Retail Metrics, said 80 per cent of the leading chain stores reporting same-store sales figures missed Wall Street forecasts, which he described as the worst performance he could remember. Retail Metrics’ index of same-store sales fell 1.8 per cent for the month, after a 6 per cent increase in March.

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