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02/02/2012 -
Retail sales appear to have climbed in January, as a survey of the top 20 retailers in the U.S. by Thomson Reuters shows sales climbed by a net 4.2 percent on the month, compared to the same period in 2011. Analysts had expected a mere rise of 2 percent.Earlier this week, the Conference Board reported a decline in consumer confidence for January, setting off doubt over the state of spending activity, which accounts for more than two-thirds of the U.S. economy. Nonetheless, the figures reflect the month's generally tepid market showings, with mild gain in employment and an unchanged jobless rate.
"It was a tough month as retailers battled holiday hangover, lack of incentive to shop and [a] mild winter that killed outerwear clearance," Ken Perkins, president of research firm RetailMetrics, told The Associated Press.
A separate report released this week by Kronos found hiring in the U.S. retail sector climbed in January at one of the strongest rates since October 2008.
These reports may suggest merchants are preparing for a major uptick in demand, highlighting the importance of equipping stores with adequate payment services and point-of-sale terminals to meet customers' buying preferences.
