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Weather, consumer confidence boost Feb. dept. store sales
NEW YORK -- Sales at Macy’s, JCPenney and Kohl’s surpassed analysts’ estimates in February amid gradually moderating temperatures and rising consumer confidence. However, analysts warned that a late Easter and rising gasoline prices could impact sales going forward.
Confidence among U.S. consumers rose in February to the highest level in three years, according to a Thomson Reuters/University of Michigan index, as a drop in unemployment helped overcome concern over rising food and fuel costs.
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Target falls short, but Macy’s, J.C. Penney and Kohl’s top estimates in February
New York City -- Sales at Macy’s, J.C. Penney and Kohl’s surpassed analysts’ estimates in February amid gradually moderating temperatures and rising consumer confidence. However, analysts warned that a late Easter and rising gasoline prices could impact sales going forward.
Confidence among U.S. consumers rose in February to the highest level in three years, according to a Thomson Reuters/University of Michigan index, as a drop in unemployment helped overcome concern over rising food and fuel costs.