Retail Sales Climb Sharply in February
Several big specialty retailers and department store chains on Thursday reported strong February sales growth as demand for spring apparel heated up.
The results from the nation’s major retailers indicated that consumer interest in shopping hasn’t cooled despite a lukewarm economy.
“Certainly retailing is not dead,” said Karen Sack, an analyst at Standard & Poor’s Corp. in New York.
Linda R. Morris of PNC Financial Corp. in Philadelphia said the February figures “signal that the consumer is continuing to spend. Although it’s not a robust retail environment, it certainly bodes well for a decent year.”
Los Angeles-based Carter Hawley Hale Stores Inc., which operates the Broadway and other retail chains, reported that sales for the four weeks ended March 3 rose 3.1% to $176.8 million.
MAJOR RETAILERS’ SALES IN FEBRUARY
In millions of dollars 1990 % change Sears 2,127 +0.1 K mart 1,900 +14.7 Wal-Mart Stores 1,950 +33.0 J.C. Penney 880 + 8.1 Dayton Hudson 821 +13.1 May Dept.Stores 596 + 10.6 Melville Corp. 503 +11.7 Woolworth* 330 +13.7 Limited Inc. 318 +21.0 TJX** 134 +15.8 Montgomery Ward 299 + 1.7 Carter Hawley Hale 177 + 3.1
* Excludes foreign sales. ** Formerly Zayre
