Retail sales seen up in February

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NEW YORK, Mar 1 (Reuters): February sales numbers that top United States (US) chains report later this week will be the first sign of shoppers' ability and willingness to pay more for clothing and household items now that gas prices are rising. More than two dozen US store chains, from high end department stores Nordstrom Inc and Saks Inc to discounters Target Corp and Costco Wholesale Corp will report February sales Wednesday and Thursday. Wall Street analysts expect that same-store sales, at outlets open at least year, rose 3.8 per cent last month, according to Thomson Reuters' Same-Store Sales Index. Stores should get a boost from the severe winter storms that plagued much of the country in late January, postponing some shoppers' purchases into February. But gasoline prices have begun climbing after tumult in Libya sent oil prices to 2-1/2 year highs last week and could severely dent sales this spring. How much gas prices go up will determine whether retailers' shares, which have stalled since December, resume their climb. The Standard & Poor's Retail Index is up 0.2 per cent so far this year, while the broader S&P 500 is up 5.2 per cent.