Retail sales aren't wavering, with many of the big-name retail brands beating or exceeding Wall Street predictions. Ken Perkins, the president of Retail Metrics, notes the strong performance of these industry leaders bodes well for the sector as a whole because they account for a significant portion of spending.

Overall, merchants report a 6.7 percent increase in sales for February compared to the same time last year. January posted a year-over-year improvement of only 2.7 percent, which highlights the growth experienced in February. This also marks the biggest year-over-year gains since June 2011, when retail sales were up 6.9 percent.

"This was a very strong month. A new life has been breathed into the retailers," explained Perkins. "Consumers are starting to feel much better about their overall situation."

The International Council of Shopping Centers credited the warm winter months, along with increased Valentine's Day spending, with the sharp rise in sales.

Merchants need to use retail business intelligence to ensure they are capitalizing on this increase in consumer spending.

This entry was posted by Retail Pro on Thursday, March 8th, 2012 at 10:29 am .