Retailers report higher December sales

NEW YORK (AP) – A last-minute surge in spending may have saved Christmas for stores.

Major retailers such as Costco and Nordstrom on Thursday reported better-than-expected revenue in December. That comes as a relief for stores that can make up to 40 percent of their annual revenue during the winter holiday shopping period that runs from November through the end of December.

Consumers had a lot to worry about this holiday, including cleanup after Superstorm Sandy and the possibility of the U.S. economy falling off the “fiscal cliff,” triggering a massive budget cuts and tax increases that would...