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NEW YORK (CNN/Money) -
U.S. retailers pulled out surprisingly strong sales results last month as consumers flocked to stores to take advantage of the tail-end of holiday promotions and early spring merchandise.
"We're getting some very good results today despite the very difficult 6.7 percent February same-store sales comparisons from last year," said Ken Perkins, retail analyst with RetailMetrics, adding that 85 percent of the 42 retail names that he tracks had so far beaten expectations.
Perkins said retailers benefited from several factors, including robust President's Day holiday weekend sales, strong Valentine's Day sales, as well as the Super Bowl weekend that fell into the first week of February this year.
"I think the spring fashions are looking pretty good with consumers showing willingness to pay full price," he said. "And let's not forget that the economy is gaining strength. We had an upward revision to GDP growth and the early tax refunds are adding that little bit of extra cash into the pocket."
February was a positive month for discounter Wal-Mart, which reported sales at its stores open at a least a year that topped its forecasts for the month.
Bentonville, Ark.-based Wal-Mart (Research), the industry leader, said same-store sales for the four-week period ended Feb. 25 grew 4.1 percent. The retailer had expected sales to grow at the high end of its 2 to 4 percent guidance for the period.
Net sales rose 10.9 percent to $22.4 billion from $20.2 billion a year earlier.
Comparable sales at Wal-Mart discount stores grew 4.1 percent. Sales at the company's Sam's Club wholesale club stores also rose 4.1 percent. For March, Wal-Mart said in a statement that it expects same-store sales "to be similar to or better than February."
Similar to last month, it was the specialty apparel sellers and high-end merchants that pulled out impressive numbers. Teen clothier American Eagle Outfitters (Research) posted a stunning 32.4 percent jump in its same-store sales. In the same category, Pacific Sunwear (Research)'s sales rose 10.5 percent for the month.
Abercrombie & Fitch (Research) saw a 19 percent growth in its sales.
"February was a successful month for clearance merchandise and many retailers are relieved to have winter gear out of their stores," National Retail Federation's president and CEO Tracy Mullin, said in a statement. "Retailers appear pleased with their pricing strategies for spring and are encouraged that consumers are heading to the stores in larger numbers."
Luxury goods merchants Nordstrom (Research) saw a 7 percent increase in its sales while Neiman Marcus (Research) logged 7.7 percent growth in same-store sales.
Federated Department Stores (Research), which recently announced it was acquiring rival May Department Stores (Research) , saw a modest 1.8 percent gain in same-store sales. May's sales however, slumped 4.2 percent.
Among other laggards, home furnishings retailer Pier 1 Imports (Research) suffered a 15.3 percent drop in sales, continuing its protracted trend of declining sales, and cut its fourth-quarter profit forecast to between 25 to 27 cents a share from an earlier guidance of 31 to 38 cents a share.
"We believe that the lack of national television advertising, some inclement weather and transitional store layouts with lean inventories all contributed to sales declines," CEO Marvin Girouard said in a statement.
Said Perkins, "Pier 1 hasn't posted a comparable sales increase since March last year. The retailer is struggling badly with their merchandising and I don't think their marketing is compelling either."
Same-store sales at Limited Brands (Research), parents of Victoria's Secret, Express and Bath & Body Works chains, fell 4 percent, led by a 20 percent drop in sales at Express.
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