Retailers Report Weak Sales
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NEW YORK — The nation’s major retailers today reported generally weak sales last month, and analysts attributed the lack of spending to the high levels of installment debt held by consumers.
During February, the first month of the major retailers’ fiscal year, Sears, Roebuck & Co., the nation’s largest retailer, said its sales fell 2%. No. 2 K mart Corp. said its sales rose 1.4%, third-ranked J. C. Penney Co. reported a 7.4% sales increase and Federated Department Stores Inc., ranked fourth, had a 5.1% gain.
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