September sales results stronger than expected

Retailers are reporting surprisingly solid sales gains for September, boosted by back-to-school shopping in the first half of the month.

The results Thursday give hope for a positive holiday shopping season, although Americans are still dealing with an uncertain economy and high unemployment.

An array of stores including Macy's Inc., Victoria's Secret and Bath and Body Works parent Limited Brands Inc., Abercrombie & Fitch reported better-than-expected results.

A notable exception was Target Corp., which saw sales rise but missed estimates.

"I think retailers are pleasantly pleased by the strength of the back-to-school season," said Ken Perkins, president of research firm RetailMetrics. "It's turning out to be a solid month, which should bode well for the holiday shopping season."

Read Full Article from The Associated Press

- Posted: 2010-10-07 08:52:33

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