News Summary: Retailers report modest gains in May
News Summary: US retailers report modest gains in May as the economic picture improves
MODEST MAY: Retailers' revenue at stores open at least a year — a closely-watched industry measure of a retail health — rose 3.4 percent in May compared with the same month a year ago, according to a preliminary tally of 13 retailers by the International Council of Shopping Centers.
CONTRIBUTORS: An improving job picture, better housing market and stock market rallies have helped push consumer confidence to five-year highs, making Americans feel better about spending.
WINNERS: Among the best performers were warehouse club operator Costco Wholesale Corp. and department store operator Stein Mart.
