Last Week’s Sales Less Than Expected

Sales at U.S. retailers such as Target Corp. were less than expected last week as shoppers watched their wallets in what analysts expect will be a lackluster holiday season.

Sales at stores open at least a year gained 1.9% from the previous week, when they fell after snow and ice storms kept shoppers from malls, Bank of Tokyo-Mitsubishi Ltd. and UBS Warburg said in a report. Same-store sales in the week ended Saturday rose 4.5% from the year-ago period.

Target, Wal-Mart Stores Inc. and Federated Department Stores Inc. are among retailers whose sales were at the low end or below the companies’ estimates. Sales at Target, the No. 2 U.S. discount chain behind Wal-Mart, are “well below” expectations, the company said.