April 12 (Bloomberg) -- U.S. retailers, led by Wal-Mart Stores Inc., reported March sales that exceeded estimates as an early Easter and warmer weather spurred purchases of holiday gifts and spring clothing.

The shift of Easter sales may damp revenue in April. Wal- Mart, the world's largest retailer, said today that sales may fall as much as 2 percent this month. Federated Department Stores Inc., owner of Macy's, said first-quarter sales would be at the low end of its previous forecast.

In March, 69 percent of retailers beat analysts' sales estimates, almost double the 35 percent rate in February, said Retail Metrics LLC. Easter was eight days earlier than 2006, moving candy and toy purchases into March. Sales of lightweight clothing benefited from the second-warmest March on record.

``The early Easter had people buying and apparently clothing was a big push for a lot of retailers,'' said Russell Jones, director of retail at New York consulting firm AlixPartners LLC. ``Almost across the board, results'' exceeded expectations.

Wal-Mart reported a 4 percent gain in the U.S., beating its forecast of 1 percent to 2 percent. Gap Inc.'s same-store sales rose for the first time in more than a year. Kohl's Corp.'s results almost doubled analyst estimates.

Sales at 53 retail chains climbed a combined 5.9 percent, the most since April 2006, the International Council of Shopping Centers said. The ICSC had forecast a gain of 4 percent to 5 percent at U.S. stores open at least a year. Same-store sales are used to measure the health of older locations.

Separately, Goldman Sachs Group Inc. said its index of March sales, which tracks about 30 retailers, rose 6.2 percent.

Index Gains

The Standard & Poor's 500 Retailing Index of 30 companies rose 0.5 percent today and has gained 3.7 percent this year. The broader S&P 500 index has advanced 2.1 percent.

Last month was the second-warmest March in the U.S. since records began in 1895, according to weather consulting firm Planalytics Inc., based in Wayne, Pennsylvania. February was the coldest since 1994, the company said.

``This type of lift is not unusual with the warmer than normal weather,'' ICSC Chief Economist Michael Niemira said today in an interview.

April sales will be hurt by the Easter shift to March, he said. This month may be the coldest April in 24 years, according to Weather Trends International, a consulting firm in Bethlehem, Pennsylvania.

``April's weather so far is not very conducive to buying spring and summer merchandise,'' said Steven Baumgarten, an analyst at PNC Wealth Management in Philadelphia. His firm manages $54 billion, including Wal-Mart and J.C. Penney Co. stock.

Wal-Mart Outlook

Wal-Mart, based in Bentonville, Arkansas, said it may have trouble meeting its first-quarter earnings forecast of 68 cents to 71 cents a share because of a ``tough sales environment.'' Its shares fell 1 cent to $47.26 at 4 p.m. in New York Stock Exchange composite trading.

Target Corp., the second-largest U.S. discount chain, said April sales may drop 2 percent to 4 percent. J.C. Penney said sales in April may be unchanged.

Specialty apparel retailers' same-store sales climbed 7 percent in March, the most in three years, said Niemira. Gap's same-store sales rose 6 percent, beating Retail Metrics estimates for a 1.5 percent decline. Its Gap, Banana Republic and Old Navy chains all posted positive results. Retail Metrics is a research firm based in Swampscott, Massachusetts.

Limited, Abercrombie

Limited Brands Inc., the owner of the Victoria's Secret and Bath & Body Works chains, said sales climbed 8 percent, beating estimates of 7 percent. Abercrombie & Fitch Co., a casual clothing retailer for teens and college students, had a 7 percent increase, more than double estimates of a 2.4 percent rise.

Jos. A. Bank Clothiers Inc., which sells men's apparel, said same-store sales rose 1.4 percent, below a 2.9 percent estimate.

Department stores' results climbed 8.6 percent, ICSC said. J.C. Penney said March sales gained 11 percent on clothing purchases. Kohl's, the fourth-largest U.S. department-store company, said same-store sales surged 17 percent on sales of t- shirts and shorts. Analysts had forecast a 9.1 percent.

Federated, the second-largest U.S. department-store company, said sales increased 2.3 percent, missing analysts' estimates for a 3.3 percent gain. Chief Executive Terry Lundgren blamed weak demand for household goods.

Sears Holdings Corp., the largest U.S. department-store retailer, doesn't report monthly sales.

Wal-Mart said last month that a slowdown in sales of home decor and clothing will continue through the spring season in the U.S. J.C. Penney, the third-largest department-store company, said today that home-decor sales were weak in March.

Luxury department stores' gains soared 13 percent, ICSC said. Seattle-based Nordstrom Inc. said sales jumped 15 percent, almost double analyst estimates. Neiman Marcus Group Inc. sales increased 10.2 percent. Saks Inc. said it sales increased 10.1 percent, short of a 13 percent analyst estimate.

To contact the reporter on this story: Heather Burke in New York at hburke2@bloomberg.net.

Last Updated: April 12, 2007 16:14 EDT