STORES' SALES BEGIN TO RECOVER
The nation's stores saw their first sales gain in 14 months in September, a sign of life from shoppers that fuels some hope for the holiday shopping season. A late Labor Day and delayed school openings helped boost back-to-school sales in September. And stores' figures are looking better as they are compared last September when spending plummeted amid the ballooning financial meltdown. But analysts dissecting the figures say they feel encouraged by reports. "Let the retail recovery begin," said Michael P. Niemira, chief economist at International Council of Shopping Centers. "This is the start of a better performance and better fundamentals."
As stores announced their results, J.C. Penney Co., Macy's Inc., and Target Corp. all reported smaller-than-expected declines in sales at stores open at least a year. Limited Brands Inc., which runs Victoria's Secret and Bath & Body Works, and accessories chain The Buckle Inc. both posted increases for the month.
