US retailers report May sales declines

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U.S. retailers reported same-store sales fell in May below expectations, as pressures like rising unemployment continued to curtail consumer spending.

Luxury chains and department-store operators continued to be the weakest sectors, with discounters and teen apparel retailers such as The Buckle Inc. stronger. Cheap chic discounter Target reported a bigger drop than analysts expected, as apparel and home products continued to be weak sellers. Overall, necessities like food and health care products continued to be the strongest sellers.

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