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BRIEF: February Retail Sales Chilly
Thursday, March 05, 2009 3:24 PM


(Source: The Record - Hackensack, New Jersey)trackingBy Joan Verdon, The Record, Hackensack, N.J.

Mar. 5--Secaucus-based The Children's Place is among the retail chains reporting better than expected February results today, but for the most part the numbers are nothing to cheer about.

Retailers are expecting to post a fifth consecutive month of sales declines when all of the numbers are averaged later today by the International Council of Shopping Centers. But several retailers had a sunnier February than analysts had anticipated.

The Children's Place reported sales were flat for the month, good news given the fact that analysts had forecast a 3.6 percent decline.

Wal-Mart again was the winner in a recession-wracked economy. It's sales surged 5.1 percent, twice the expected gain of 2.4 percent.

On average, same-store sales -- sales at stores open at least a year -- are expect to decline about 1 percent.

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