- Two men accused of selling meth to undercover cop (6/22/17)
- Cape man stabbed in head, arm after strip-club incident; skull fractured, police say (6/25/17)3
- Custom cuts: Local hairstylist provides free haircuts to special-needs children (6/26/17)3
- Police: Man grabbed wheel, tried to kill driver and himself in Jackson crash (6/23/17)
- Jackson scores high in survey of residents; better streets, Aldi are high priorities (6/20/17)4
- Annual SEMO District Fair event lineup announced (6/23/17)2
- Marble Hill mayor hires city manager without board approval (6/21/17)4
- Oran town board fired officer before hiring him as police chief; city officials say they can't remember reason for firing (6/25/17)2
- Playing with fire (6/25/17)
- Two charged in theft of jewelry from Cape storage facility (6/23/17)1
Many retailers report September sales declines
NEW YORK -- Early September reports from retailers show sales are still falling for many amid worries about jobs and tight credit, but many of the results came in better than expected.
As stores announced their results Thursday, teen retailer Wet Seal Inc. and Macy's Inc. reported smaller-than-expected declines in sales at stores opened at least a year. The measure is considered a key indicator of a retailer's health.
The comparison is to a weak September last year when business plummeted during the financial meltdown.
Limited Brands Inc. and accessories chain The Buckle Inc. both posted sales increases for the month.
Still, "consumers remain under pressure on multiple fronts," said Ken Perkins, president of retail research firm Retail Metrics. "I don't think consumer spending is going to see a substantial uptick. Shoppers are concerned about rebuilding their balance sheets."
According to a preliminary tally by Thomson Reuters, nine stores beat Wall Street estimates, while four retailers' results missed expecations.
September sales also benefited this year from a late Labor Day and this year's later school openings.
Macy's had a 2.3 percent decline, less than the 4.6 percent drop that analysts surveyed by Thomson Reuters had projected.
Limited Brands reported that sales in stores open at least a year rose 1 percent in September; that was better than the 2.4 percent slide that analysts had predicted.
Buckle Inc. said its sales at stores open at least a year rose 5.1 percent, a bit lower than the 5.8 percent gain that Wall Street anticipated.
Wet Seal had a 4.5 percent decline, but analysts had expected a 7.8 percent drop for September.
Stein Mart Inc. said sales at stores open at least a year fell 5.4 percent in September. Analysts had anticipated a 4 percent decline.