Feb 6, 2010

Big retailers report strong sales gains in JanuaryBy Andrea Chang and Alejandro LazoArticles.LATimes.com

The 3.3% increase over the previous year cheers merchants but shoppers are still exercising restraint. Nordstrom and TJX post double-digit gains.

In a surprise showing for a notoriously slow month, shoppers turned out at the nation’s malls in January, spending carefully but sufficiently to help retailers post solid sales and providing momentum heading into the spring selling season.

Retail sales increased 3.3% compared with January 2009, according to Thomson Reuters’ tally of 29 major chain stores, including department stores, discounters and apparel sellers. Analysts had predicted a 2.5% gain.

January is considered by many retail experts to be the least important month of the year as stores are mainly clearing out winter and holiday merchandise. The months ahead, when retailers roll out spring and summer apparel and accessories, will provide a better gauge of the industry’s pace of recovery, they said.

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