“NEW YORK (AP) — Americans may have slowed their spending in September after splurging during the start of the busy back-to-school shopping season in the month before. But most importantly, they were still spending.
September sales rose 3.9 percent — a slowdown from the 6-percent rise in August — as 22 retailers like Macy’s and Costco reported mixed results, according to the International Council of Shopping Centers. Still, given the economic and political uncertainty that weighs on many Americans right now, analysts say the results are an encouraging sign for stores as they head into what’s traditionally the busiest shopping period of the year in November and December.
“This should set up to be a good holiday season,” said Ken Perkins, president of Retail Metrics LLC, a research firm.
Retailers’ monthly sales figures are based on revenue at stores opened at least a year. That measure, which is considered to be an indicator of a retailer’s health because it excludes results from stores recently opened or closed, offers insights into how Americans are spending during the slow economic recovery.
But only a handful of merchants representing about 13 percent of the $2.4 trillion U.S. retail industry report monthly revenue. And that list is dwindling: Target Corp. on Thursday said that it will no longer report monthly figures starting next year.”
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