Retailers Report Solid January Sales

Despite a deluge of snow and ice throughout much of the U.S., shoppers still flocked to stores in January, according to the sales figures of 28 major retailers tracked by Thomson Reuters. The retailers showed sales gains of 4.2 percent on average for January—higher than analysts’ projections for a 2.7 percent gain. Some analysts surmise that shoppers used January to make up for missed purchases, since a massive post-Christmas snowstorm left many shoppers stranded at home during the traditionally busy retail days of Dec. 26 and 27. ShopperTalk estimates that roughly $1 billion in retail sales were postponed on those days.