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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: ild who wrote (1136)	9/30/2003 8:23:21 AM
From: russwinter	Read Replies (1) of 110194

What in the world is the market paying for on retail? Too strange. Being gutted and thinned out by WMT? Reuters U.S. chain store sales fall for third week -report Tuesday September 30, 7:46 am ET NEW YORK, Sept 30 (Reuters) - U.S. chain store sales fell for the third week in a row, signaling the hot pace of summer sales is over, a report showed on Tuesday. Sales fell 0.4 percent in the week ended Sept. 27, the Bank of Tokyo-Mitsubishi and UBS said in a joint report, after tumbling 1.8 percent in the prior week. Compared with the previous year, sales for the week rose 4.4 percent, up from a 4.0 percent gain the week before. As a result of what the report called "some fundamental softening in consumer demand," BTM/UBS cut its September comparable store sales expectation to growth of 3.5 percent on a year-over-year basis from 3.5 percent to 4.0 percent. Wal-Mart Stores Inc. (NYSE:WMT - News) is expected to report September same store sales growth of 5 percent, topping the report's selected monthly comparable store sales estimates. Arkansas-based Wal-Mart on Monday reaffirmed its forecast for third quarter earnings of 45 to 47 cents per share. The BTM/UBS Weekly Chain Store Sales Snapshot is compiled from a group of major discount, department and chain stores that report their weekly results. The BTM/UBS index measures sales growth with the year 1977 equaling 100.

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