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Target Corp. also said revenue at stores open at least a year rose beat Wall Street estimates. The retailer reported a 4.3 percent in January, compared with the 2.1 percent expected by analysts. The company said in a recording that some of its strongest performers were shoes, health care products and boys' and girls' clothing. The luxury sector also did well as well-heeled shoppers continued to buy. Saks Inc. posted revenue at stores opened at least a year that rose 10.5 percent during January, driven by sales of women's apparel, handbags and men's accessories. Meanwhile, stores that sell clothing faced big challenges due in part to the weather. The Bon-Ton Stores Inc. reported a 3.5 percent decrease in revenue at stores opened at least a year. Tony Buccina, president of merchandising, blamed the poor performance on the mild winter. "January sales were below expectations due to the continuation of the milder weather in our markets, which had an adverse impact on sales of cold-weather merchandise and comprised the majority of our sales shortfall," he said. Macy's posted a 2.4 percent increase, which was "weaker than anticipated," said the chain's CEO Terry J. Lundgren. Still, the retailer raised its guidance for the fourth quarter and full year based on stronger sales earlier in the quarter. Macy's said it continues to benefit from its move to tailor merchandise to local markets. "The fourth quarter was our strongest in many years, and demonstrated the continued progress in improving the fundamentals in our business," Lundgren said in a statement.
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