Economy, Retailer | featured news

Americans spent briskly during the early spring months in the latest sign that they’re encouraged by the economic recovery. Falling gas prices, a rallying stock market and gains in the job market all fueled Americans’ shopping habits even as cold weather tempered their desire to buy spring fashions.

U.S. retailers are reporting modest sales gains for March as consumers held back due to cold weather during the month and continued worry about the economy. Overall, 14 retailers reported on Thursday that revenue at stores open at least a year — a key indicator of retail health — rose an average of 0.6 percent. That number comes from the research firm Retail Metrics.

U.S. retailers are posting moderate sales for February, dealing with mixed signals like payroll-tax increases and later income-tax refunds that were countered by a rousing stock market and better housing reports.

Many top retailers reported strong January sales on Thursday after offering merchandise and deals that drew in shoppers in spite of higher payroll taxes.

Americans spent more online in November to start the holiday season and began to replace cars and rebuild in the Northeast after Superstorm Sandy.

Cyber Monday online sales beat forecasts by nearly half a billion dollars. ComScore on Monday predicted that Cyber Monday would generate $1.5 billion in online sales, but according to Adobe, the shopping day ended up raking in $1.98 billion, which was a 17% increase compared to last year.

On Friday, the government finally cleared a controversial plan to open up its lucrative retail sector to global supermarket chains in an effort to revive a flagging economy. There has been a massive political kerfuffle over how the supposed invasion of global chains will destroy India's fabled "mom-and-pop" stores, which have a stranglehold on the retail market.

India ushered in the biggest economic reforms in two decades on Friday, allowing big foreign retailers like Walmart, foreign broadcasters and foreign airlines to invest in the country, among other reforms.

Most retailers, including Costco Wholesale Corp and Limited Brands Inc , posted better-than-expected sales gains at existing stores in August, in what is expected to be a healthy month as parents and students wrapped up back-to-school purchases.

In an effort to follow trends, students and their families are delaying back-to-school purchases, which could hurt an economy heavily dependent on consumer spending to stay afloat.