Retailers report solid sales gains in October
NEW YORK (AP) — Shoppers who continue to be weighed down by the weak economy slowed their spending in October, according to monthly revenue results reported by retailers. That's a bad sign for merchants as they head into the winter holiday shopping season.
Costco Wholesale Corp., Limited Brands Inc., Macy's Inc. and Target Corp. on Thursday reported solid gains on for the month compared with September. But their results fell below Wall Street analysts' expectations.
The results are based on revenue at stores opened at least a year and are considered a key indicator of a retailer's health.