Business Blog Posts

Apparel chains appealing to young shoppers such as The Buckle, Wet Seal Hot Topic and Zumiez all reported better-than-expected sales at stores open at least a year on Thursday.

They were among the earliest results reported for the retail industry, with sales for department stores, discount chains and specialty apparel due to be released later in the morning.

Overall, Wall Street has forecast a same-store sales rise of 2.1 percent for the retail sector, according to Thomson Reuters data.

"It was a late back-to-school season that started slowly while shoppers waited for discounts," said David Bassuk, managing director at AlixPartners' global retail practice. "And it looks like they'll do the same for the holidays."

Victoria's Secret parent Limited Brands, posted a same-store sales rise of 12 percent, beating Wall Street forecasts of a 4.1 percent rise. It also forecast October same-store sales would rise in the mid-single digit percentages, and its shares jumped 3.5 percent in premarket training.

Other retailers set to report September sales results include Target Corp, Macy's Inc and Saks Inc.

Last week, the Thomson Reuters/University of Michigan Surveys of Consumers showed consumer sentiment remained at its weakest level in more than a year due to economic worries among upper-income families.

U.S. private employers unexpectedly shed jobs in September, adding to consumer anxiety about high unemployment. Shoppers say they are still buying with caution.

"I hit the sale rack first," said Fayola Romano, a medical receptionist from Brooklyn who was shopping on Wednesday at a Macy's store in Manhattan.

"I think I'm going to wait until the season gets closer, and then figure out if I am going to shop as much," she said of her holiday spending plans.

(Reporting by Phil Wahba; Editing by Michele Gershberg, Dave Zimmerman)