Retailers Report Sales Declines in February

By Anne D'innocenzio

NEW YORK -- Tighter inventory control and milder weather helped retailers in February as business at many merchants was not as bad as in January. Wal-Mart's (WMT Quote) gains far outpaced expectations -- but many stores, especially at the higher end, still struggled.

The month showed a widening rift between moderately priced stores and luxury chains like Saks (SKS Quote). In the results released Thursday, mall-based clothing chains including Wet Seal (WTSLA Quote), Stage Stores Inc. and American Eagle Outfitters (AEG Quote) still saw sales slump, but the declines weren't as steep as Wall Street expected. At teen retailer The Buckle Inc., the same-store gain was more than double what Wall Street expected.

Same-store sales are sales at stores open at least a year and are a key measure of a retailer's health. ...