NEW YORK (Reuters) - Many top U.S. retailers reported better-than-expected August sales, withstanding Hurricane Irene and sagging consumer confidence.
Analysts expect the 24 retailers tracked by Thomson Reuters to post a 4.6 percent gain in August sales at stores open at least a year.
Most of the early same-store sales reports were better-than-expected, with Gap Inc among the few retailers to miss Wall Street's forecasts. For a graphic on same-store sales, click http://r.reuters.com/juz43s
August is the peak of back-to-school shopping, the second-most important period for U.S. retailers after the year-end holiday season. Sales in recent months have held up despite weak economic indicators, offering hope for August and the rest of the year, until the hurricane disrupted shopping along the East Coast during a key weekend.
via news.yahoo.com
