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October 7, 2008 1:31:05 PM CDT

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Retail Sales Rise, but Consumers Spend Cautiously

Posted May 8, 08 9:04 AM CDT in Business 

(Newser) – Consumers gave some of the nation's retailers a little relief in April, following months of dismal sales, but business was helped along by heavy discounting that could hurt fiscal first-quarter earnings, AP reports. Early sales reports issued yesterday showed that shoppers—who are contending with rising gas prices, sagging home and worries about their jobs—bought the basics at discounters and wholesale clubs.

"Consumers are focusing on value and price points and stretching their dollars," an analyst tells AP. "They are feeling the pinch on multiple fronts." He and other analysts expect only a modest uptick in sales in May and June as consumers spend tax rebate checks that are starting to arrive.

Source Associated Press

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A customer carries her shopping from the Linens 'n Things store at the Woodbridge Crossing shopping center Friday, May 2, 2008, in Woodbridge, N.J.   (AP Photo/Mel Evans)
A couple walks with bags from Gap outside of a Gap store in San Francisco, Thursday, April 10, 2008.   (AP Photo/Jeff Chiu)
Consumers go through the self check line at a supermarket in Chicago Tuesday, April 29, 2008.   (AP Photo/Charles Rex Arbogast)
Stephen Berk, left, owner of Berk's Shoes in Providence, R.I., looks through his inventory with employee Jillian Luz to decide what to put on sale, Tuesday, April 29, 2008.   (AP Photo/Stew Milne)
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