Check Out Line: More good news about rebounding consumers
Check out the latest encouraging news about U.S. shoppers dusting themselves off and shelling out their hard earned cash again.
U.S. consumers spent more in February than expected, despite buying fewer cars and being stuck at home shoveling record amounts of snow in many parts of the country. The U.S. Commerce Department said on Friday that total retail sales rose 0.3 percent, from necessities to luxury items. Excluding motor vehicles and parts, retail sales rose a bigger than expected 0.8 percent in February.
This comes on top of better than expected February sales reported last week at many top U.S. retail chains.
And more improvement is yet to come as U.S. consumers pay off debt and fix their collective balance sheets, freeing up more cash to go shopping, according to a Wall Street Journal report this morning.
Also in the basket:
Walmart cuts prices on staples in Western Canada
Ann Taylor posts surprise quarterly profit
New Orleans Saints Super Bowl win helps Hibbett