Pursuits
U.S. Retailers’ Sales Beat Estimates on Tax Holidays
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U.S. retailers reported August sales that beat analysts’ estimates as back-to-school discounts and tax holidays lured consumers to malls.
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.