Retail Sales Lag Behind Expectations : Consumers: The industry was looking for an overall increase of 7% to 8%, but experts say nationwide gains were a modest 6% during February.

Cold weather in much of the nation chilled the buying habits of many consumers last month, leaving retailers with lower than expected sales during February--the first full month of business since the inauguration of President Clinton.

Retail sales nationwide rose 6% for the month compared to February, 1992, said Steven Marotta of New York-based Johnson Redbook Service, which analyzes retailing.

The retail industry had expected an overall increase of 7% to 8%, Marotta said.

“Sales were strong early in the month but faded toward the end because much of the U.S.--the northern tier of the country from Denver to the East Coast--were under siege weather-wise,” he said.

During the first week in February, Marotta said, sales were up 10.3%, but revenue actually dropped 1.9% during the last week of the month, when much of the nation experienced a cold snap.

Retail industry observers have been looking for signs of consumer reaction to Clinton’s Feb. 17 economic address to Congress, in which he called for tax increases and spending cuts to staunch the growth of the federal budget deficit.

Some in the retail industry have expressed concern about Clinton’s economic package. Robert J. Verdisco, president of the Washington-based International Mass Retail Assn., cited improved sales in December and January and said the prospect of tax hikes could put a damper on consumer spending.

However, most industry analysts said there was probably little consumer reaction to the proposals in February because Clinton and Congress are still developing economic plans.

“In February, consumers didn’t know--for sure--how they will be affected tax-wise,” said Richard Nelson, an analyst at Duff & Phelps in Chicago. “March sales will be a better indicator of consumer confidence because the public will know more about the economic plans taking shape.”

Sears, Roebuck & Co.’s sales from stores open at least a year--also known as same-store sales--rose 2.2% in February, a modest increase.

However, the Chicago-based chain, which has been trying to bolster its lackluster merchandising operations, said February sales of major household appliances and furniture were encouraging.

Carter Hawley Hale Stores, the Los Angeles-based owner of the Broadway department store chain, is also trying to rebound from financial trouble.

The company, which recently emerged from Chapter 11 bankruptcy protection, had a negligible same-store sales decline of 0.3% in February. The St. Louis-based May Department Stores Co. had a 1.9% same-store sales increase for the month.

The company recently merged its May Department Stores with its Robinson’s division, creating Robinsons-May stores.

At the Minneapolis-based Dayton Hudson Corp., owner of the Mervyn’s and Target chains, same-store sales rose 2.2% in February. During the same period, J.C. Penney Co. had a sales increase of 4.7%.

The nation’s two largest retailers also had a lackluster month. Wal-Mart Stores said its same-store sales were unchanged, and Kmart Corp. reported a 1.1% increase.