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U.S. retail sales gain marginally

Published: March 11, 2008 at 2:34 PM
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WASHINGTON, March 11 (UPI) -- Retail sales in the United States gained marginally for the week ending March 8, the International Council of Shopping Centers-USB reported Tuesday.

The gain of 0.3 percent is an improvement over from the previous week when retail store sales declined 0.6 percent.

On a year-over-year basis sales grew 1.6 percent on the week, the report said.

Figures for the month of February, however, showed a sales gain of 1.9 percent, "way ahead of expectations for the industry," the report said.

February sales figures were pushed by a 2.6 percent monthly increase at Wal-Mart.

The association that tracks retail spending in chain stores expected a 2 percent gain in March's spending, chief economist Michael P. Niemira said.



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