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Retail Sales Weak in September
(2009-10-08)
A shopper carrying bags walks at a mall in Arlington
(Associated Press) - Recession-weary consumers aren't quick to part with their cash just yet. But, stores are reporting some better-than-expected retail sales for September.

A late Labor Day and delayed school openings helped at least nine stores beat Wall Street predictions last month, according to Thomson Reuters. So far, four retailers results came in short of expectations, including Gap, Inc., dragged down by its namesake store and Banana Republic.

J.C. Penney, Macy's, and teen retailer Wet Seal reported smaller-than-expected declines in sales at stores open at least a year. Limited Brands, which runs Victoria's Secret and Bath & Body Works, posted increases for the month.

American Eagle reported flat sales, beating estimates for a 4.1 percent decrease.

Stores, staring down nearly double-digit unemployment and still-tight credit markets, are bracing for what could be another dismal holiday shopping season.
© Copyright 2012, Associated Press