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Retailer Sales Solid, Teens, Luxury Lead; Other Data Mixed; May Jobs Report Out Friday; Jobless rolls, labor costs, factory orders not great, but consumers still fine.(A)
Byline: IBD STAFF AND WIRE REPORTS
The nation's retailers had generally solid sales last month, overcoming a cold spring as cheerier consumers were willing to spend.
May's big winners once again were luxury stores such as Nordstrom and teen retailers like Bebe.
Wal-Mart, the world's No. 1 retailer, said same-store sales rose 2.5%, matching modest estimates.
Shares of apparel chains and retailers overall did well Thursday.
Other data out Thursday were mixed. April factory orders rose 0.9%, the best in five months, the Commerce Department said, but a little below views. Excluding transportation, orders fell 0.2%.
First-quarter productivity was revised higher, but labor costs moved way up. Jobless claims last week rose to a 2-month high.
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