U.S. retailers reported better-than-expected monthly sales figures for a second consecutive month in April, offering new evidence that consumer spending is improving this spring. Of the 31 retailers that reported April sales, 64 percent beat Wall Street estimates, and some said they will report better first-quarter results than they had expected. Overall retail sales rose 1.2 percent, compared to analyst expectations for a 0.2 percent decline. Excluding Wal-Mart Stores—the world's biggest retailer—retail sales actually fell 2.7 percent, which was still better than the 3.4 percent decline analysts had expected. Wal-Mart posted a 5 percent rise in April sales. In general, retail sales were helped last month by warmer weather and tax refunds. Analysts acknowledged the positive economic signals but warned that any recovery will be slow as long as unemployment remains high.
