NEW YORK – U.S. chain stores sales rose in the third week of May with strength in household staples, but rising gasoline prices and interest rates are expected to lower sales in the second quarter, a report said on Tuesday.
Sales at major retailers were up 3.3 percent on a year-over-year basis for the week ended May 20, following a 3.4 percent rise the prior week, said Redbook Research, an independent company.
Sales at U.S. retailers so far in May were down 2.8 percent when compared with the same period in April.
The Johnson Redbook Index is a sales-weighted index of year-over-year same-store sales growth in a sample of large US general merchandise retailers representing about 9,000 stores.
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