Retailers report uneven sales in January
Merchants say mixed sales results indicate consumer caution persists. Above, shoppers in Southampton. (Feb. 2, 2012) Credit: Randee Daddona
Americans were shopping in January, but not every store was feeling the love.
Retailers reported mixed sales results for the month in a sign that U.S. consumers continue to be cautious about when and where they spend their money in the shaky economy.
Overall, merchants Thursday reported a 4.8 percent increase for January, according to the International Council of Shopping Center's tally of 20 retailers. That's above the 3 percent gain that ICSC had expected.
But the results were divided.
Retailers like Target that sell basic household goods did well, as did chains like Saks that cater to wealthier shoppers. Meanwhile, Macy's and other stores that sell mid-price clothing posted disappointing results.
"The takeaway is that the underlying demand is still there, but business continues to be uneven," said Michael P. Niemira, ICSC's chief economist. "It was definitely a divided picture."
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