Retail Sales Trending Upwardby Tim Manni
Retail Sales have improved to their best numbers since September. Consumers concentrated the bulk of their spending at large discount retailers in February. Led by Wal-Mart, discount retailers posted their third-monthly increase, boosting 3.1% last month. February’s sales at wholesale clubs posted their best reading since October.
According to the Wall Street Journal:
Wal-Mart stood above other retailers, posting its best sales performance in nine months. Sales at stores open a year rose 5.1%, the company said, twice the rate that analysts had expected, and helped by strong demand for electronics.
Last month we wrote that certain analysts were cautioning against getting too excited over January’s numbers since the first two months of the year are usually the worst for retailers. Since January and February’s numbers have been strong, despite their history of weak performance, the potential for the numbers to improve in the coming months has only gotten stronger.