Retailers report sales declines in February

[March 05, 2009]  NEW YORK (AP) -- Retailers are reporting sales declines for February, as shoppers remain tightfisted amid plunging stock portfolios and massive job cuts.

But the sales figures don't appear to be as dismal as in January, as merchants make progress in controlling inventories.

In the sales results released Thursday, mall-based clothing chains including Wet Seal Inc. and Stage Stores Inc. continue to struggle with a sales slump, but the declines weren't as steep as what Wall Street expected.

At teen retailer The Buckle Inc., the same-store gain was more than double what Wall Street expected.

Same-store sales are sales at stores open at least a year and are a key measure of a retailer's health.

[Associated Press]

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