|March retail revenue figure inches up||| Print ||
|Written by Associated Press|
|Thursday, 11 April 2013 08:37|
NEW YORK (AP) — U.S. retailers are reporting modest sales gains for March as consumers held back due to cold weather during the month and continued worry about the economy.
Overall, 14 retailers reported on Thursday that revenue at stores open at least a year — a key indicator of retail health — rose an average of 0.6 percent. That number comes from the research firm Retail Metrics.
L Brands, formerly Limited Brands Inc., the parent of Victoria's Secret and Bath and Body Works, says the revenue figure was flat, above analyst expectations for a drop, according to Thomson Reuters.
Costco Wholesale Corp.'s revenue figure rose 4 percent in March, short of expectations for a 5.2 percent rise.
Economists monitor consumer spending because it accounts for more than 70 percent of economic activity.
Copyright 2013 The Associated Press.