New York Many retailers reported strong sales for February in the latest sign that Americans are feeling more confident in the economy.
As merchants reported their monthly sales figures yesterday, Target Corp, Macy's Inc and Limited Brands Inc, reported sales gains that exceeded Wall Street estimates.
The figures are considered an indicator of a retailer's health. Only a small group of retailers report monthly sales figures.
Target's key sales figure rose 7 per cent in February as more people came to stores and spent more on core categories such as food and health care products. Limited Brands, which operates Victoria's Secret and Bath and Body Works, had an 8 per cent increase in revenue at stores opened at least a year. Macy's reported a 4.6 per cent increase.
