U.S. retailers report weak sales

NEW YORK, March 8 (UPI) -- U.S. retailers reported weak sales as a cold February was blamed for chilling consumer demand.

Among the chains reporting February sales results below forecasts were Wal-Mart Stores Inc., Costco Wholesale Corp., Federated Department Stores Inc., J.C. Penney Co., Abercrombie & Fitch Co. and American Eagle Outfitters Inc.

Same-store sales, or sales at stores open at least a year, rose 1.9 percent in February compared with a 3 percent gain in February 2006, a Lazard Capital Markets LLC index of 45 major chains found.

A similar comparison made by the International Council of Shopping Centers-UBS said same-store sales rose 2.4 percent.

Wal-Mart of Bentonville, Ark., the world's largest retailer, reported a 0.9 percent gain in same-store sales and said it expected weakness would continue through the spring.

Target Corp., Wal-Mart's smaller rival, reported a 5.7 percent sales increase, at the high end of its 4 percent to 6 percent forecast.

Limited Brands Inc. had a 3 percent increase in same-store sales. Nordstrom Inc. reported a 9.1 percent increase.

Saks Inc., which operates Saks Fifth Avenue, posted a 24.7 percent increase Wednesday.

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