The nation’s retailers had mixed sales results in March as unusually cold weather and climbing gas prices outweighed the benefit of an early Easter holiday.
As the nation’s biggest retailers reported sales results Thursday, several youth-oriented apparel sellers were the big winners, with retailers like Abercrombie & Fitch Co. and Bebe Stores Inc. posting sharply better than expected results.
But retailers Wal-Mart Stores Inc. and Limited Brands missed Wall Street forecasts. Moderately priced department store operator J.C. Penney Company Inc. said its sales barely rose, missing estimates as well.
Higher-end department stores again delivered impressive results. Nordstrom Inc. and Federated Department Stores Inc. posted sales that easily beat estimates. Those chains profited from affluent consumers’ willingness to spend on luxury items.
