US retail chain store sales rise in March
Pedestrians walk by a Gap store on May 19, 2011 in San Francisco, California. Gap was among the strongest performing American retailers in March 2012.
An unusually warm March boosted US retail chain store sales more than expected in March.
Sales at chain retail stores in the US rose 4.3 percent in March, according to Thomson Reuters' data cited by the Los Angeles Times. Analysts were expecting sales would rise 3.5 percent, but warmer weather boosted sales more than expected, the paper said.
Another report from the International Council of Shopping Centers showed March sales among a wider group of retailers rose 4.1 percent in March, the Associated Press said.
Among the big winners in March: Gap Inc., Saks Inc., Nordstrom, Ross Stores and Limited Brands.
The Walgreen Co. and Wet Seal didn't fare so well.
The AP called Gap "one of the biggest success stories of the month."
Revenue for stores open at least a year at the company, which operates Gap, Banana Republic and Old Navy stores, rose 8 percent – more than the 5.4 percent analysts had been expecting.
The data is among the latest bits of good news to emerge on the US economic front.
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The US unemployment rate has been declining in recent months as fewer people have been filing claims for unemployment benefits.
Job openings and auto sales have also been rising.
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