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Limited shines in January
New York City -- The nation’s apparel retailers reported mixed results for January as shoppers remain cautious about spending in the uncertain economy.
“It was as tough month as retailers battled holiday hangover, lack of incentive to shop and mild winter that killed outerwear clearance," said Ken Perkins, president of RetailMetrics Inc., in a Reuters report.
As the first month of the year, January accounts for only 20% November-January sales, and 7% of annual sales, according to RetailMetrics.
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NRF: Valentine’s Day total spending to hit $17.6 billion
Washington, D.C. -- Consumers are set to put out all the stops this Valentine’s Day, with the average person shelling out $126.03, up 8.5% over last year, according to NRF’s 2012 Valentine’s Day Consumer Intentions and Actions survey, conducted by BIGinsight. Total spending is expected to reach $17.6 billion.