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Retailers are reporting some encouraging trends from October as they head into the holiday shopping season. Sales during the month, traditionally a time of fall clearance, were better than expected for many retailers. "There’s generally momentum in the business," said Leslie Wexner, chief executive of Limited Brands. Retailers are in a stronger position than a year ago. Inventory levels are much leaner, meaning fewer dramatic markdowns to clear excess wares. And most of the promotions have been carefully planned—unlike the fire sales that retailers held a year ago. That could help lift retailers’ profit margins. "The confidence is just beginning to come back to the business," said Glenn Murphy, Gap’s chief executive, last month. "We’re walking a little taller."View full article at The Wall Street Journal