NEW YORK — Retailers are reporting surprisingly solid January revenue gains despite snowstorms that many feared would chill spending.
The reports offer encouraging signs that strength in consumer spending is being sustained after a robust holiday season.
Many retailers, including Costco Wholesale Corp, Limited Brands and teen retailer Wet Seal Inc., are reporting gains that beat Wall Street expectations.
A notable straggler was Target Corp., whose business was below expectations, particularly in the South and Northeast.
The figures are based on revenue at stores opened at least a year and are considered a key indicator of a retailers’ health.
January is the least important month of the year for retailers because it is when stores get rid of winter clearance goods to make room for spring merchandise.
