U.S. Retailers Post Sales Gain

For the first time since August 2008, U.S. retailers have posted a collective gain in same-store sales in the month of September, a development that may signal relief for the battered retail industry. The news comes as a surprise to many analysts, especially considering the sour state of the economy, rising unemployment, weak consumer spending, and other negative economic factors.
Analysts largely expected the retail industry to do much worse in the month of September: while Thompson Reuters predicted that its retail same-store sales index would show a 1.1 percent drop in sales, they actually rose 0.6 percent. The surprising outcome …read more