Consumers armed with gift cards and lured by mild weather returned to stores and malls in January, buying clearance and spring merchandise and giving many retailers a better-than-expected sales boost for the month.
As merchants reported their January results Thursday, winners included Wal-Mart Stores Inc. and discount rival Target Corp., wholesale club operators such as Costco Wholesale Corp., teen retailers including Abercrombie & Fitch Co. and upscale apparel stores like Nordstrom Inc. Even Gap Inc., which has been struggling to find the right fashion formula, turned in a sales performance that pleased Wall Street.
