February Retail Sales Beat Estimates, Led by Saks, Macy’s

U.S. retailers posted a gain in same-store sales in February that surpassed analysts’ estimates, driven by luxury chains and department stores, as more confident shoppers embraced the arrival of warm-weather goods.

Same-store sales at high-end retailer Saks Inc. jumped 15 percent compared with the 5.3 percent average gain from analysts’ estimates compiled by Retail Metrics Inc. Department stores Macy’s Inc., J.C. Penney Co. and Kohl’s Corp., also surpassed projections.