Retailers Report Modest Gains
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NEW YORK — With high levels of consumer debt continuing to crimp consumer spending, the nation’s major retailers today reported mediocre sales gains in April over a year ago.
Sears, Roebuck & Co., the largest retailer, said its sales for the four weeks ended May 3 rose 1.9% from the same period a year ago. K mart Corp., ranked second, said its sales increased 2.8%, while No. 3 J. C. Penney Co. said its sales rose 7.8%. F. W. Woolworth Co., the No. 7 chain, reported an 8.8% gain, while struggling Montgomery Ward & Co., No. 9, had a 1.8% decline.
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