US retail sales climb in February

Washington: US retail sales climbed in February by the most in four months, spurred by job gains and more seasonable temperatures.

The 1% increase in purchases followed a revised 0.7% rise in January that was more than double the previous estimate, Commerce Department figures showed in Washington.

February sales, boosted by a jump in auto purchases and more expensive gasoline, matched the median forecast in a Bloomberg News survey.

JC Penney Co and Macy’s Inc were among retailers that topped analysts’ same-store sales estimates, a sign household spending is holding up after the strongest quarterly gain in four years.

Bigger paychecks stemming from a tax compromise may help support demand in coming months.