Sales at Limited Brands Inc., owner of the Victoria's Secret chain, climbed 10 percent, more than the 7 percent average of analysts' estimates compiled by Retail Metrics Inc. Sales at Kohl's Corp., the department-store chain, rose 4.5 percent compared with a 3.2 percent projection. Sales at Gap Inc. were unchanged, beating estimates for a 0.5 percent drop.
certainty among U.S. consumers increased more than forecast last month, with the Conference Board's index advancing from a five-month low in July. Seventeen tax-free holidays during August probably attracted extra shoppers to the mall, where discounts were deeper than those in the previous month, said Ken Perkins, leader of Retail Metrics.
"The tax-free holidays really gave a boost," Perkins said today in an interview. "Retailers came out of the gates strong on the promotional front in the last week of July and that carried through for basically the entire month of August."
Limited, based in Columbus, Ohio, gained $1.13 to $25.40 at 1:17 p.m. in New York Stock Exchange selling. Menomonee Falls, Wisconsin-based Kohl's, the fourth-largest U.S. department-store chain, climbed 62 cents to $49.02 and San Francisco-based Gap, operator of Old Navy and Banana Republic chains, added 29 cents to $17.50.
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