Shopping declined on the week, but advanced 1.5 percent from the same week a year ago, the report said.

The report noted "record heat in the West, very cool conditions in the East," which added up to "the second coldest middle May period in 16 years."

In an ICSC-USB survey conducted May 15 and 18, the report said 67 percent of 1,000 respondents indicated they had cut back on spending.

Seventy-nine percent of those respondents indicated they had reduced spending on eating out and 71 percent indicated cutting back on entertainment.

Others indicated cuts in travel and vacations (69 percent), clothing (62 percent) and consumer electronics (51 percent), the report said.