U.S. consumer spending fell by $8.1 billion, or 0.1%, in April 2014. It was the first monthly decline in consumer spending since April 2013 and followed a 1% increase of $117.6 billion the previous month.
Despite the massive data breach that hurt Target’s fourth quarter, people are not staying away from the retailer. According to a Reuters report, the company saw a dramatic improvement in traffic in the first quarter compared with its late fourth-quarter trends.
Walmart continues to envision flat same-store sales at its U.S. stores after reporting weaker than expected profits on weak U.S. sales results that were negatively affected by a winter that wouldn’t end.