(Reuters) - Several U.S. retailers reported mixed January sales results on Thursday, as consumers faced a hit to their take-home pay from higher payroll taxes, while cold weather may have helped spur purchases of winter clothes.
Costco Wholesale Corp
Limited Brands Inc
Other retailers reporting stronger-than-expected sales were the teen-oriented Zumiez Inc
Overall, analysts expect 3.5 percent same-store sales growth for January across 18 retailers, excluding drugstore chains Walgreen Co
U.S. consumer sentiment improved in January as Americans felt Washington's deal to avert the "fiscal cliff" at the beginning of the month boded well for the economy, a survey released last week showed.
But at the same time, tens of millions of Americans saw their take home pay fall because of a 2-percentage-point increase in payroll taxes.
Cato Corp
Department store operator Bon-Ton Stores Inc
Other chains to report January sales later on Thursday include Macy's Inc
The index offers only a glimpse of retail spending as major chains like Wal-Mart Stores Inc
The colder midmonth weather in the eastern half of the country probably helped many retailers. January is a small month for retail sales, and retailers' profits are exposed to how much discounting they have to do to clear shelves to put in spring merchandise.
"We think cold weather has helped clear winter apparel," Morgan Stanley analyst Lauren Bellmare wrote in a note this week, and said there were generally lower levels of discounting at mall-based stores.
(Reporting by Phil Wahba in New York; Editing by Lisa Von Ahn)
Source: http://news.yahoo.com/u-retail-chains-report-mixed-sales-january-130946795--business.html
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