Retailers report slower sales growth in September
By ANNE D’INNOCENZIO AP Retail Writer October 4, 2012 8:28AM
Updated: October 4, 2012 12:40PM
NEW YORK — Monthly sales reports from major retailers are showing that Americans slowed down their spending in September as they took a pause after wrapping up their back-to-school buying.
As retailers announced their monthly results Thursday, Limited Brands Inc. and Costco Corp. reported sales gains that beat analysts’ expectations. Target Corp. and Macy’s Inc. posted sales increases that were below what analysts had projected.
Teen accessories retailer The Buckle reported a surprise sales decline.
The figures are based on revenue at stores opened at least a year and are considered a key indicator of a retailer’s health because it excludes results from stores recently opened or closed.