Nation : Big Chain Stores Post Good Year
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NEW YORK — The nation’s big chain stores ended the 1988 fiscal year on a healthy note, led by robust demand for women’s clothing in January.
On average, U.S. retailers’ comparable store sales grew about 6% to 8% in January, or about 2% to 4% after inflation, retailing analysts said today. The rise should help retailers post strong results in the fourth quarter, which ended Jan. 28. Indeed, the strong comparisons versus last year’s lackluster fourth quarter make it likely that some retailers could report profit growth as high as 30% to 40%, analysts said.
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