Report: Many retailers miss May sales projections

Retail sales lackluster in May Unexpectedly mild weather helped to cool off sales of consumer goods in May, with many of the biggest American retailers saying that they missed their sales projections for the month, according to a report from Marketwatch.

Target was among the retail chains that told Marketwatch that their sales had failed to reach the expected levels for last month. That company’s CEO, Gregg Steinhafel, told the publication that "our recent experience reinforces our belief that we will continue to experience volatility in the pace of economic recovery."

While Target’s sales posted a less-than-expected 1.3 percent gain, other retailers fared even worse, according to Marketwatch. Hot Topic reported a nearly 10 percent downturn in May sales, though the chain had expected at least some sales losses during the month. Fellow teen-market retailer Wet Seal dropped 5 percent.

Despite several recent economic indicators pointing to a general brightening of the American economic forecast, conditions in general remain uncertain as unemployment stays fixed around 10 percent and the housing market continues to baffle the most expert predictions. Americans have frequently opted to reduce debt instead of upping their consumer spending.