With Exceptions, Retailers Post Weak Results for February
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Retailers reported weak February sales, saying the monthâs cold temperatures and stormy weather hampered results.
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Wal-Mart Stores Inc. , the world's largest retailer, on Thursday reported a lower-than-expected 0.9 percent rise in February sales at its U.S. stores open at least a year.
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Post-holiday clearance sales and gift-card redemptions boosted January sales at major U.S. retailers, but the harsh winter weather that hit the Northeast and Midwest late in the month capped consumers' spending.
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Retail sales rose a  less-than-expected 0.1 percent in February despite firm  automotive sales as building materials and general merchandise  sales slumped, a Commerce Department report showed on Tuesday.
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US stores post mixed results for the holiday season, with luxury retailers faring well and others forced to slash prices.
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Retail sales fell 0.3 percent in January &#151; the weakest showing in five months &#151; as a big drop in demand for cars offset strength at clothing and department stores. Spending was powered mostly by consumers anxious to use holiday gift cards.
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Consumer sentiment fell sharply in early February to levels associated with previous recessions, dragged down by concerns a bleak outlook would raise unemployment, a survey showed.
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U.S. retailers on Thursday delivered  mixed sales results for December, the year's key shopping  month, with upscale stores faring well but many others slashing  prices, squeezing profits.
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Inflation pressures fell in February due mainly to measures for vendor performance and the job market, which were partly offset by inflationary moves in interest rates and commodity prices, a report said on Friday.
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Several U.S. regions noted slower  economic growth in the last weeks of February but price  pressures remained little changed despite tight labor markets,  the Federal Reserve said on Wednesday.
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The start of the back-to-school shopping season was a disappointment for major retailers, giving the industry a third straight month of listless sales. Higher gasoline prices contributed to the poor showing.
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UK retail sales were weaker in January than a year ago, but shops remain cautiously optimistic about February, a study by the CBI says.
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The coldest February since 1979 caused U.S. retailers' sales to grow at the slowest pace in three months as consumers delayed buying spring merchandise.
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Retailers are on track to post solid but not spectacular sales for the holidays after a last-minute dash to stores, according to indicators released yesterday.
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The nation's retailers, once hopeful for a strong spring selling season, are being forced to ratchet down their expectations after sales stalled amid the chill of February.
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Several U.S. regions noted slower economic growth in the last weeks of February but price pressures remained little changed despite tight labor markets, the Federal Reserve said on Wednesday.
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Payroll growth was the weakest in two years in February but a lower unemployment rate and a revision higher for January job growth hinted at surprising resilience in the nation's labor market.