Posted: Mar 1, 2012 7:33 AM
Source: Associated Press
NEW YORK - Retailers are reporting strong sales gains for February as shoppers, enticed by mild weather and an improving economy, splurged on shoes and clothing.
As merchants reported their sales figures, Target Corp., Macy's Inc., Limited Brands Inc., and teen retailer The Buckle all reported sales gains that beat Wall Street estimates.
The figures are based on revenue at stores opened at least a year and are considered a key indicator of a retailer's health.
Economists closely watch consumer spending since it accounts for more than 70 percent of all economic activity.