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February 08, 2007
Retailers Report Strong Jan. Sales
Retailers are reporting better-than-expected post-holiday sales. A survey of major chains showed a 3.9% increase in same store sales for January, compared to the 4.9% jump they recorded in 2006.
Federated Department Stores posted an 8.6% increase for the month after Christmas, far outpacing the chain’s own growth estimate of between 1.5% and 3%.
Even Gap posted smaller losses than expected, with a 6% decrease in sales in North America, compared to an estimated drop of 9%.
Posted by Blacks on February 8, 2007 09:51 AM
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