Retailers report surprisingly solid Jan. sales - WAOW - Newsline 9, Wausau News, Weather, Sports

Retailers report surprisingly solid Jan. sales

NEW YORK (AP) -- Retailers are reporting surprisingly solid January revenue gains despite snowstorms that many feared would chill spending.

The reports offer encouraging signs that strength in consumer spending is being sustained after a robust holiday season.

Many retailers, including Costco Wholesale Corp, Limited Brands and teen retailer Wet Seal Inc., are reporting gains that beat Wall Street expectations.

A notable straggler was Target Corp., whose business was below expectations, particularly in the South and Northeast. The figures are based on revenue at stores opened at least a year and are considered a key indicator of a retailers' health.

January is the least important month of the year for retailers because it is when stores get rid of winter clearance goods to make room for spring merchandise.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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