New York City Apparel chains struggled through another dismal month in April, but discounters fared well as consumers searched for bargains to buy necessities.
Chains selling must-have items like food and milk at a discount -- such as Wal-Mart Stores and Costco Wholesale -- were standouts.
Many retailers have struggled in recent months as consumers pare spending on less essential items in light of soaring gasoline prices and grocery bills.
Wal-Mart said same-store sales rose 3.2% in April, excluding fuel sales -- topping the average analyst estimate of 2.1% growth, according to Reuters Estimates. Meanwhile, Costco posted an 8% increase in April same-store sales, while total sales climbed 12% to $5.54 billion.
Children's Place Retail Stores said April same-store sales surged 15%. Analysts had expected same-store sales to rise 5.3%, according to Reuters Estimates.
Pacific Sunwear of California said same-store sa