Deep December discounts lured holiday shoppers and pushed sales slightly ahead of modest expectations, top U.S. retailers reported on Thursday, but a disappointing profit forecast from Wal-Mart raised concerns about the vital fourth quarter.
Teen apparel retailers were among the big winners as cut-price winter fashions flew off the shelves at chains such as Aeropostale Inc., while trendy Abercrombie & Fitch Co. reported a huge sales jump despite holding back on the markdowns. Department stores including Nordstrom Inc. and Federated Department Stores Inc. rebounded from a disappointing November with stronger-than-expected sales. But stores catering to lower-income shoppers struggled as some blamed steep gasoline and heating fuel prices that have cut into consumer spending.
