RPT-Moody's to focus on retailers' online sales - report

(Repeats to additional Reuters clients)

NEW YORK, June 16 (Reuters) - Moody's Investors Service is set to announce it has begun including online sales of major retailers as an important factor it its credit ratings, the Wall Street Journal reported on Monday.

Strong online sales will be considered a "ratings positive" that can mitigate declining same-store sales trends and increase geographic presence, the newspaper said.

Moody's said its May outlook change for Limited Brands Inc (LTD.N) to Baa3 with negative outlook from Baa3 with stable outlook was partly to due to online sales factors.

Moody's move comes as online sales continue to grow despite a slowdown in sales from bricks-and-mortar stores.

U.S. online sales, excluding travel, are forecast to grow 17 percent to $204 billion in 2008 representing about 7 percent of total retail sales, the newspaper reported, citing a report from Forrester Research.

Online sales are typically not included in most retailers' monthly same-store sales. (Reporting by Matt Daily; Editing by David Holmes)