Discount
retailers are seeing
stronger sales than
the average U.S. retailer,
as consumers cut back
on spending as the
economy struggles,
Reuters reported.
Wal-Mart reported
that same-store sales
were up 2.6 percent
in February, with
strong results in
grocery, health and
wellness, and entertainment.
Costco also posted
an increase in same-store
sales, of 7 percent
in February. Meanwhile,
women's apparel companies
continued to struggle.
"Wal-Mart's
upside surprise is
encouraging,"
said Ken Perkins,
president of Retail
Metrics, according
to Reuters. "They
mention their apparel
and electronics are
up, so that's a good
sign. As the economy
turns downward, people
trade down and look
for value propositions." |
