US DATA REACT: From Nomura: “retailers fared quite well despite the
weather. Or alternatively the weather may have spurred sales of snow
removal equipment (building supply stores) and winter clothing (apparel
stores) , encouraged hoarding (food stores), and boosted demand for home
entertaining (electronics and furniture — think recliners for
snow-bound couch potatoes) or all of the above (department stores).
Whatever the story line, these results are impressive.” From SMRA:
“Retail sales data for 2010 to date re-establish what had been an
improving trend seen in November and October 2009 that was interrupted
by the slight decline in December.”