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Cold weather freezes US retailer’s sales

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Trends suggest that the U.S. retailers’ sales will grow at the slowest pace in past three months due to cold weather. This has been the coldest February since 1979, and has caused the consumer to holdup their shopping of spring goods.

The International Council of Shopping Centers report based on results from 53 retailers, suggests that the overall U.S. same-store sales rose 2.5 per cent, which is the smallest gain since November.

Reports say that stores like Wal-Mart have also felt the heat of the cold weather. Wal-Mart, the world’s biggest retailer, said its sales at stores open at least 12 months rose 0.9 per cent, less than the company’s forecast of 1 per cent to 2 per cent. Target Corp., the second-largest U.S. discount chain, has done slightly better than Wal-Mart.

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