Retailers' Sales Rise, Led by Teen, Luxury (Neiman Marcus: up 11%)

[Bush_Eats_Beef]

"Some people call you the elite...I call you my BASE."



NEW YORK — U.S. retail sales rose modestly in May as discount retailers 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.

Wal-Mart Stores Inc (WMT), the world's biggest retailer, posted a 2.5 percent increase in May sales at stores open at least one year, a key measure known as same-store sales, as demand for groceries made up for sluggish sales of summer merchandise.

On the other end of the price spectrum, luxury retailers such as upscale department store Nordstrom Inc reported its May same-store sales rose 7.4 percent.

Another high-end department store, Neiman Marcus Group (NMG.A), Wednesday posted an 11 percent jump in May sales, well above Wall Street's expectation of a 5 percent increase. It cited fewer markdowns and strong sales of jewelry, handbags and accessories.

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