May comp gains dramatic at upscale chains.(sales report of retail industries)

Home Textiles Today, June, 2006 by Hogsett, Don

NEW YORK -- With upbeat consumers spending freely--at least those who could afford to fill up their tanks and still have something left over--American retailers reported a second straight month of solid gains. The Johnson Redbook Index, which tracks same-store sales for leading retailers, said comps climbed higher by 4.3% for the 59 retail companies it tracks, following an even better 6.7% gain during April.

But the cheer only spread so far, and while upstairs retailers mostly took it to the bank, others struggled. Even Wal-Mart, which caters largely to the nation's low-income consumers--those hardest hit by prices at the pump, had a tough time of it. Same-store sales were up just 2.0%, at the low end of its original forecast of 2% to 4% growth. ...