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Non-Tech : Retail Sector Earnings Reports
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To: SusieQ1065 who wrote (157)7/31/2002 12:49:54 AM
From: SusieQ1065  Read Replies (3) of 246
 
CSFB said a survey of mall traffic showed that it had fallen in July and retail sales were suffering. Wal-Mart and Target both said sales for last week were under plan and this was the third week down for Target. I wrote about this coming for several weeks and the mainstream media is now picking up on it. The discount stores are typically the last to fail since they offer a broad range of low level inexpensive consumable goods. The consumer has been the building block for the recovery since business spending is still dropping. If the consumer is now going into conservation mode the second dip may not be far ahead. The GDP report is expected to show growth of only +2.5% in the 2Q following the +6.1% 1Q surge. The reason for the 1Q numbers was inventory replenishment. That inventory cycle was over in the 2Q and final sales also slowed. A serious miss in this number would be very detrimental to the markets. Some analysts are estimating numbers as low as +2.2%.

Optioninvestor.Com...Jim Brown
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