Retail Sales Down: Many of the nation’s...

Retail Sales Down: Many of the nation’s biggest retailers said their January sales fell in comparison to year-earlier results. Among them were Sears, J. C. Penney, May Co., Limited Inc. and Carter Hawley Hale. Discounters Wal-Mart and Kmart Corp. fared better, an indication that consumers were searching for lower prices. The beginning of the Gulf War helped put a dent in already lackluster business. January is considered the least significant month due to consumers’ light spending after Christmas.