TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Retailers report modest sales gains for February

By The Associated Press
Friday, March 8, 2013, 12:01 a.m.
 

AP-US-Retail-Sales,121

Retailers report modest sales gains for February

Eds: APNewsNow.

By ANNE D'INNOCENZIO

AP Retail Writer

NEW YORK — Retailers are reporting modest sales gains for February as consumers, uninspired by cool weather and worried about the economy, shopped cautiously for spring merchandise.

Overall, 15 retailers reported on Thursday that revenue at stores open at least a year — a key indicator of retail health — rose an average of 1.7 percent. That number comes from the International Council of Shopping Centers.

It is a sharp slowdown from the 4.5 percent pace in January when shoppers splurged on holiday clearances.

Costco Wholesale Corp. reported strong sales that beat analysts' expectations, but several other chains such as Ross Stores Inc. and Fred's Inc. posted declines.

Economists closely monitor consumer spending because it accounts for more than 70 percent of economic activity.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Construction of $500M power plant in South Huntingdon stalled
  2. Not all pleased about jobs
  3. Look out for auto insurance discounts
  4. Groups stand against ‘sub-minimum’ wage for workers with disabilities
  5. Car dealers find silver lining in cloud of vehicle recalls
  6. Chrysler recalls up to 792K Jeep SUVs for ignition switch defect
  7. Even though it’s a hassle, stay on top of Facebook privacy settings
  8. Fledgling services offer social networkers payment for posts
  9. Durable goods orders up 0.7% in June
  10. EPA failing to stop natural gas pipeline leaks, internal watchdog says
  11. Plug-in Accord makes gas station visits rare
Subscribe today! Click here for our subscription offers.