NYT/AP: Nation's Retailers Report Solid February Sales

Nation's Retailers Report Solid February Sales
By THE ASSOCIATED PRESS

Published: March 3, 2005
Filed at 7:12 p.m. ET


NEW YORK (AP) -- Despite a spike in oil prices and stormy weather in the Northeast and Midwest, consumers extended their shopping spree into February, handing retailers better-than-expected sales for the month.

As merchants reported their results Thursday, it was clear that factors including new spring fashions and bigger tax refunds helped boost spending, but analysts also pointed to a generally improving economy, particularly the job market, that has helped reinvigorate business since the beginning of the year.

Especially encouraging were reviving sales at mid- and lower-priced department stores, such as Kohl's Corp. and Sears, Roebuck and Co., which had struggled as customers worried about job security cut back their spending.

A broad range of companies beat Wall Street sales forecasts, including Wal-Mart Stores Inc., Target Corp., J.C. Penney Co. Inc., Nordstrom Inc., Talbots Inc. and teen retailers such as Abercrombie & Fitch Inc....


http://www.nytimes.com/aponline/business/AP-Retail-Sales.html

Any longer.

It's all down hill from here.

Interest rates are still low at 2.5%. Debt is still cheap for the moment at least.