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Retailers report solid January sales despite winter deluge
New York City -- Many retailers surprised with solid January revenue reporting on Thursday, despite snowstorms that raged across the country during the month.
The reports, many of which surpassed Wall Street expectations, offer encouragement that strength in consumer spending is continuing after a merry holiday season.
Costco Wholesale Corp, Victoria's Secret parent Limited Brands and teen retailer Wet Seal were among those that beat analyst expectations. Target, however, lagged, behind.
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Sales mixed in December; Limited and Abercrombie lead specialty field
NEW YORK - After coming off a strong November, U.S. retailers found their momentum largely waned in December, with sales impacted by a still-cautious consumer, early discounting and a blizzard that crippled the Northeast in the days immediately after Christmas. But while many chains missed Wall Street’s heightened expectations for December, the retail industry still turned in its strongest holiday performance since 2006.