U.S. retailers reported positive data for January on Thursday, reversing a disappointing holiday season as consumers enjoyed mixed weather that produced strong sales of both winter items and early spring goods. Major retailers like Limited Brands Inc., Nordstrom Inc., and Federated Department Stores Inc. posted strong results, while Wal-Mart Stores Inc. beat Wall Street estimates, and even Gap Inc. beat analysts' expectations. Of the merchants that reported so far, 32 beat estimates while 18 missed expectations, according to Thomson Financial. Two met projections. The sales reports also provided some encouraging news about fourth-quarter earnings, as many stores at least backed their profit forecasts. At the same time, the Labor Department reported Thursday that 311,000 newly jobless workers applied for benefits last week, an increase of 3,000 from the previous week. While unemployment was slightly up, the overall numbers still reflected a healthy labor market, the department said.
