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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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Discounters post solid results for January; Macy’s misses estimates
New York City -- The nation’s discount chains reported solid results for January, with Target Corp., TJX Cos., and Costco Wholesale Corp. all reporting gains above expectations. Overall, discounters reported stronger results than department stores, which appeared to take a greater hit due to the unseasonably warm weather and heavy promotions.
As the first month of the year, January accounts for only 20% Nov.-Jan. sales, and 7% of annual sales, according to RetailMetrics.