Heinz more signs of a slowing consumer in the US
Sales from stores open at least a year, known as same-store sales, are considered
the most accurate measure of a retailer's business.
Selected figures on September's sales at leading retail chains:
Sears, same-store sales rose 4.7 percent, total sales up 1.3 percent.
Kmart, same-store sales up 3.7 percent, total sales up 6.3 percent.
J.C. Penney, same-store department store sales down 5.7 percent; same-store sales at Eckerd drugstores up 10.2 percent; total sales up 3.2 percent.
Dayton Hudson, same-store sales up 2.9 percent, total sales up 8.4 percent.
Federated, same-store sales up 5.3 percent, total sales up 19.6 percent. Federated's total sales include revenues from the Internet and catalog seller Fingerhut, which was acquired in March.
May Department Stores, same-store sales fell 2 percent, total sales up 1.5 percent.
Limited, same-store sales up 8 percent, total sales rose about 1 percent.
Gap, same-store sales up 1 percent, total sales up 23 percent.
The market logic
- if the economy is strong profits rise BUY STOCKS
- if the economy is soft interest rates go down BUY STOCKS
As you see in wonderland it is a win win situation in buying stocks.<GGG>
BWDIK
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