Retail saw increased sales in May

Rising gas prices and interest rates didn't seem to thwart consumer spending in May. Retail sales increased by 4.3 percent, with consumers reportedly concentrating on housewares, appliances and summer fashions.

Some department stores, including Sears, Roebuck and J.C. Penney, exceeded forecasts. Sears saw a 3.5 sales increase in May, while Penney's sales lifted by 1.1 percent.