February 3, 2011 / 5:04 AM / 8 years ago

Record snow seen hurting January U.S. retail sales

* Jan U.S. same-store sales seen up 2.7 pct — analysts

* Record snow hurt sales; mainly in the U.S. Northeast

* Teen chains will struggle

* Luxury chains, Limited, Costco will shine

By Dhanya Skariachan

NEW YORK, Feb 2 (Reuters) - U.S. retailers will shed light on the impact of inclement weather on their initial spring sales when they report figures for January on Thursday.

The snowiest January in six years played havoc with hopes of a strong ending to the holiday season, weighing down shopper traffic in malls and stores, especially in the Northeast, which saw multiple snowstorms.

Fewer discounted goods in a typically promotional month could also have kept bargain-hungry shoppers away, analysts pointed out.

Retailers ranging from Target Corp (TGT.N) to Saks Inc SKS.N report January sales on Thursday. January is the final month and the smallest contributor to sales in the retail sector’s fourth quarter. [ID: nN31230054]

Sales at stores open at least a year, or same-store sales, are forecast to rise 2.7 percent, compared with a rise of 3.3 percent a year earlier, according to Thomson Reuters data.

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