Retail sales rise 3.6% in August, beating forecasts

[bemildred]

Shoppers hit the malls for back-to-school shopping in August and handed retailers a healthy boost despite continued worries about the job market and a sluggish economy.

Major chain stores posted a 3.6% sales increase in August compared with the same month a year earlier, outpacing analysts' expectations of a 2% rise, according to Thomson Reuters' tally of 16 retailers.

"Consumer spending increased for the first time in three months," said Chris Christopher, an economist at IHS Global Insight, "providing evidence that after hunkering down for two consecutive months there are signs of life on the consumer front."

Top performers were a mixture of high- and low-end stores. Luxury department store Nordstrom led the way with a strong 21% jump. San Francisco-based Gap Inc. continued to show signs of a turnaround by posting a 9% increase. Discounters fared well, with off-price retailers Ross Stores Inc. and TJX Cos. both reporting a strong 8% increase. Limited Brands, parent company of Victoria's Secret and Bath & Body Works, also saw sales rise 8%.

http://www.latimes.com/business/money/la-fi-mo-retail-sales-20120829,0,7074471.story

[Warpy]

1. People know inventory will be down this year

so I suppose they're buying winter clothing as soon as they see it so they won't have to get picked over stuff when it's time to wear it.

They might also be doing their Xmas shopping early.

I didn't add to this. Most of what I've been spending money on lately is my sick kitty.

[bemildred]

2. I have the feeling there is a little money out there now.

Not anything to write home about, not terrible either. But if things are picking up, that would seem to be good news for the election.

[westerebus]

3. Hope the kitty gets better. n/t

[Warpy]

4. thanks, she won't, it's terminal

but I'm buying her some good kitty time with medications.