From Reuters:
NEW YORK (Reuters) - Retailers reported the weakest April sales results on record on Thursday after cold, stormy weather and an earlier Easter holiday sapped demand for spring merchandise.
Sales at 53 U.S. retailers fell a combined 2.4 percent, according to a preliminary tally by the International Council of Shopping Centers -- the biggest monthly decline since the group began tracking the figures in 1970.
Doesn't exactly inspire confidence. But then,
Brean Murray, Carret & Co. analyst Eric Beder said a rebound in sales in the fourth week of the April period was a "bright spot" for many retailers.
But given that the fourth week was the only one that was materially warmer than a year ago, "it is unclear if this upside was a function of temperature, increased levels of discounting or a return by the consumer to the mall," he wrote.
I think we'll be watching this closely over the next few weeks.
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