Retailers Post Big Sales Gains by Discounting

Retailers are reporting solid revenue gains for October. But it took heavy discounting on coats and other cold-weather items to get shoppers to spend amid unusually warm temperatures.

Analysts are concerned about the holiday shopping season as shoppers, grappling with job worries, are likely to wait until the last minute to get the best deals.

As retailers report their figures Thursday, the bright spots are Costco Wholesale Corp. and Limited Brands Inc., both of which are reporting bigger increases than Wall Street analysts expected.

Target Corp. and Macy’s Corp. both reported gains slightly above estimates.

The figures are based on revenue at stores opened at least a year and are considered a key indicator of a retailer’s health.

NEW YORK (AP)