Consumers continue to spend

Nation's retailers report strong sales in February

? Consumers’ rising confidence gave the nation’s retailers their third straight month of solid sales during February, with business above expectations at many clothing and department stores.

Warmer weather and more appealing spring fashions contributed to the upbeat results issued Thursday. February’s performance followed a robust January performance and a better-than-expected holiday season.

“Consumers are definitely feeling better,” said Todd D. Slater, an analyst at Lazard Freres & Co. “They are more upbeat about their jobs. They have more liquidity, and they’re much more compelled by the fashion offerings.”

Wal-Mart Stores Inc., the world’s largest retailer, announced a 6.2 percent gain in same-store sales in February, beating the 4.9 percent expected by analysts surveyed by Thomson First Call. Same-store sales are sales at stores open at least a year and are considered a key indicator of a retailer’s health.

Wal-Mart’s total sales were up 14 percent.

Target Corp., helped by strong sales at its discount division, had a 7.5 percent increase in same-store sales.

J.C. Penney Co. Inc. posted a 12.1 percent increase in same-store sales at its department stores, well exceeding the 5.6 percent expected by Wall Street. Total sales were up 11.7 percent.

At Sears, Roebuck and Co., same store sales in its domestic business were up 1.1 percent.

Gap Inc., helped particularly by robust sales at Banana Republic, had a 12 percent increase in same-store sales for the month, well past the 4.7 percent Wall Street expected. Total sales were up 13 percent.

Talbots Inc., had a 5.8 percent gain, compared to analysts’ 1.7 percent projection. Total sales were up 10 percent.

Topeka-based Payless ShoeSource same-store sales in February fell by 2.9 percent. Total sales fell by 2 percent to $171.8 million.