As reported by different store chains in the United States, the increase in number of sales during February clearly shows that buyers are willing as well as have the ability to pay more for clothes, which also included different items for household use.
Over 24 store chains in United States which included expensive outlets, as well as discount stores like Target, will be announcing their sales report of February on Wednesday or Thursday.
According to reports by analysts, some growth in sales as much as 3.8 percent was seen during February. Another factor for increased sales in February was due to severe weather conditions which forced many shoppers to wait till it cleared up in January, shifting their purchases into February.
However, sales can get affected by other factors, as fuel prices are increasing due to unrest in Libya; the price touched its peak in recent week for the past two and a half years.
According to Gary Balter, is an analyst at Credit Suisse, sales have done well in contrast to what stocks are showing out.
There was an increase in index by 5.2 percent of S&P500 and 0.2 percent for Standard and Poor’s index for retail.
The biggest increase in sales for February was made Costco, up by 7.3 percent followed Saks with 5.2 percent. Although there was a decline seen in sales of Gap Inc, 0.7 percent, and Hot Topic, a retailer for teens, a drop of 5 percent.
It was also observed that sales rose in jewelry as the buyers gained the ability to spend more on other items especially on Valentine’s Day. Many stores who will be reporting this week their sales for previous month are also trading in jewelry, hence adding up to jewelry sales.