State and Nation Business

Retailers report modest sales gains for February

NEW YORK – Retailers are reporting modest sales gains for February as consumers, uninspired by cool weather and worried about the economy, shopped cautiously for spring merchandise.

Overall, 15 retailers reported on Thursday that revenue at stores open at least a year — a key indicator of retail health — rose an average of 1.7 percent. That number comes from the International Council of Shopping Centers.

It is a sharp slowdown from the 4.5 percent pace in January when shoppers splurged on holiday clearances.

Costco Wholesale Corp. reported strong sales that beat analysts' expectations, but several other chains such as Ross Stores Inc. and Fred's Inc. posted declines.

Economists closely monitor consumer spending because it accounts for more than 70 percent of economic activity.

Loading more

Digital Access

Digital Access
Access nwherald.com from all your digital devices and receive breaking news and updates from around the area.

Home Delivery

Home Delivery
Local news, prep sports, Chicago sports, local and regional entertainment, business, home and lifestyle, food, classified and more! News you use every day! Daily, weekend and Sunday packages.

Text Alerts

Text Alerts
Stay connected to us wherever you are! Get breaking news updates along with other area information sent to you as a text message to your wireless device.

Email Newsletters

Email Newsletters
We'll deliver news & updates to your inbox. Plan your weekend and catch up on the news with our newsletters.