January is traditionally a slow month for retail sales. Perhaps because the US economy is roaring back, because the East Coast weather was mild or because shoppers were redeeming gift cards to purchase clearance and Spring merchandise, many retailers got a sales boost last month.
Wal-Mart Stores Inc., Target Corp, Costco Wholesale Corp., Abercrombie & Fitch Co., Nordstrom Inc., J.C. Penny Co. Inc. and Gap Inc. all reported performances that pleased their boards and Wall Street, totalling a 5.1% gain for 65 retailers, according to the International Council of Shopping Centers-UBS sales.
[Read the story at SFGate.com.]