Retailers experience 4th consecutive month of gains

NEW YORK (AP) — Warmer weather and an earlier Easter enticed shoppers into stores for spring merchandise in March, helping retailers post strong sales gains for the month.

Discounter Target Corp., department store Macy's Inc., clothier Gap Inc. and Victoria's Secret parent Limited Brands Inc. posted double-digit increases that beat Wall Street analysts' expectations.

Sales in stores open at least one year are an important measure of retailers' health because they exclude the effects of stores that open or close during the year.

"The consumer is really coming out of hibernation and feeling better about their situation," said Ken Perkins, president of RetailMetrics, a research firm.

Retailers benefited from several positive factors during the month, Perkins said. Most Easter sales came in March, after the holiday came more than a week later last year. Also, March 2009 was also when consumer frugality resulting from the financial meltdown and recession was near its deepest.