/ Source: Reuters
Spring promotions and Valentine's Day shopping bolstered U.S. chain store sales in the latest week, Redbook said in a report on Wednesday.
The pace of sales at major retailers grew by 5.2 percent on a year-over-year basis for the week ended Feb. 14, up from the preceding week's 4.4 percent pace, the report said. Sales in February so far were up 0.8 percent compared with January.
Milder weather across the country aided sales of Spring merchandise, and Valentine's Day falling on a Saturday increased store traffic, the report said.
The Redbook data are compiled from a sample of same-store sales at general merchandise retailers representing about 9,000 stores. Same-store sales measure revenue at stores open at least one year.