THE ECONOMY.(TO THE POINT)

Chain store sales rose last week

Same-store sales at big discount and department chains rose 1.9% vs. the prior week, lifted by late Easter shopping, the Bank of Tokyo-Mitsubishi and UBS Warburg said. Sales were up 2.3% from a year ago, when an early heat spell boosted sales of fans and summer apparel.

** April same-store sales should rise 2.5%-3.5% vs. a year ago, Bank of Tokyo-Mitsubishi said. But after March's 0.2% drop, the two-month gain of 1.5% continues the sluggish trend since Aug. '02.

Fed: excess capacity will linger

San Francisco Fed President Robert Parry expects U.S. economic growth to pick up in the 2nd half. But it won't be …