NEW YORK (AP) - Retailers are reporting strong sales gains in November, boosted by a discount-fueled spending binge for the start of the holiday shopping season last weekend. Now, the challenge is to keep shoppers spending throughout the most important selling period of the year.
Cincinnati-based Macy's Inc., Costco Wholesale Corp., Columbus, Ohio-based Limited Brands Inc. and teen retailer Buckle Inc. all reported sales gains Thursday that beat Wall Street estimates. Target Corp., however, was a straggler, reporting a slim sales gain that was below what analysts had expected.
The figures are based on revenue at stores opened at least a year and are considered a key indicator of a retailers health.