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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: CalculatedRisk who wrote (8519)6/30/2004 1:06:38 PM
From: mishedlo  Read Replies (1) of 116555
 
Sears says sales were slow in June
CHICAGO (CBS.MW) -- Sears Roebuck Chief Executive Alan Lacy said on a conference call Wednesday that June sales were lower than expected. Without giving specifics, Lacy said that like other retailers, he's seeing "softer than expected topline results in June." However, he added that he's observing "several encouraging trends across the retail business," including low single-digit gains in transactions. Shares of Sears (S) were off 1.1 percent, or 43 cents, to $37.83. Earlier Sears said it was buying 54 stores from Kmart and seven from Wal-Mart.
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