Retailers Report Strong October Sales

“NEW YORK (MarketWatch) — Retailers, whose fiscal October ended on Saturday before Hurricane Sandy pounded the mid-Atlantic and Northeast region, reported a surprisingly positive October on Thursday, with major chains projecting a still upbeat holiday outlook

Chains including Macy’s Inc. M +4.54%  and Costco Wholesale Corp. COST -0.49%  said they expected to either make up lost Sandy sales or post just a small negative impact during the critical holiday quarter.

Retailers reported a 3.8% total increase in a Sanford C. Bernstein & Co. survey of 17 retailers, topping the average estimate of a 3.1% increase. Department stores were among the bright spots. Macy’s, Nordstrom Inc. JWN +1.06%   and mid-priced chain Kohl’s Corp. KSS +2.75%  all topped expectations.”

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