Wal-Mart Message Board - Msg: 1780494

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Non-Tech : Wal-Mart

WMT 102.48

-0.1%

Nov 14 3:59 PM EST

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To: Ken Turetzky who wrote (113)	7/17/1997 9:02:00 AM
From: Leo Francis	of 1166

``Sales continue to reflect the current softness in the home furnishings industry, despite many positive economic indicators,'' said John E. Slater, Jr., President and CEO. ``During the second quarter we completed the move of our Dallas warehouse and distribution facility which serves Havertys' largest market. The transition to our new facility accelerated the merchandise close out process and as expected resulted in lower gross margins as excess inventory was sold. As previously reported, comparable-store sales rose modestly for the quarter with a 1.7% increase and decreased 0.4% for the six months ended June 30, 1997. This from a 400-500 million dollar retailer. Fingerhut also reported LOWER sales(although profits were up), which I find significant, as the demographics of the customer base is similar to WMT's, but on a cataolg basis. 27 PE for WMT????

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