L Brands, Cato Report Sales Gains Aided by Warmer January Weather

Many retailers reported sales gains in January, typically their slowest month following the busy holiday selling season. L Brands reported January sales that easily topped analysts' expectations. The owner of Victoria's Secret and Bath & Body Works posted a comparable store sales increase of 7 percent, beating the 1.9 percent growth expected by analysts polled by Thomson Reuters. Zumiez reported comp sales for January that grew 12.3 percent, reversing last year's 7.6% decline. Value retailer Cato reported sales that rose 14 percent from last year, with total sales that also rose 14% to $54.9 million. Cato chairman, president and CEO John Cato said January same-store sales were improved due to adverse weather last year.