Max, AMD looks great tomorrow. If you want to play it, take a look at it around 11 am after the sell off from the gap occurs. You might get a nice pop from there if the market has a rally tomorrow. Hope for some good G7 news and maybe an interest rate cut from England.
Welcome back Amigo.
For Ken:
<Related QuotesDG
FDO
JCP
KM
S
WMT
27 1/2
15 9/16
44 1/8
11 3/8
43 3/4
59 1/2
+1 1/16
+3/4
+3/4
-3/16
+1 3/16
+2 1/4
delayed 20 mins - disclaimerTuesday October 6, 8:02 pm Eastern Time
Discounters seen leading U.S. September retail sales
By Gregory Crawford
CHICAGO, Oct 6 (Reuters) - Following the path of Wal-Mart Stores Inc. (NYSE:WMT - news), discount stores in the U.S. are expected to show solid same-store sales gains for September while department stores and other retailers are likely to see a slowdown, analysts said Tuesday.
Wal-Mart, the largest retailer in the world, said Tuesday that sales at stores open more than a year rose 9.5 percent in September compared with a year ago.
Most other retailers are scheduled to report September same-store sales on Thursday, October 8.
''The very smart U.S. consumer is focusing upon value oriented formats,'' Tom Tashjian, retail industry analyst at Nationsbanc Montgomery Securities, said. ''Value stores such as warehouse clubs and discount stores are expected to continue the trend of gaining a greater share of consumer dollars at the expense of department store chains.''
He said he expects department stores to report about a 1 percent increase in same store sales for September and discounters to report a 6 or 7 percent increase.
''We will see a loss of momentum generally, which will also show discount stores coming out smelling more like a rose than almost all others,'' said Kurt Barnard, who publishes Barnard's Retail Trend Report from Upper Montclair, N.J.
''Department stores are probably taking it on the chin and generally speaking, general merchandisers are suffering a little bit,'' he said. ''It's the low priced stores--the Dollar Generals (NYSE:DG - news), Family Dollars (NYSE:FDO - news), the Wal-Marts and the Kmarts (NYSE:KM - news)--that are doing well.''
Despite the fact that the Labor Day holiday in the U.S. fell later this year than last year, sluggish apparel sales are expected to keep overall same store sales gains at department stores like Sears, Roebuck and Co. (NYSE:S - news), the No. 2 U.S. retailer, and J.C. Penney Co. Inc. (NYSE:JCP - news), No. 4, lackluster, analysts said.
Analysts said a slowdown in sales would not be surprising after the nearly year-long run, particularly with increasing signs the U.S. economy is beginning to slow down and as U.S. stocks remain well off their highs for the year.
''September indicates the consumer has stalled and they want to get steadier footing before they spend more money,'' Tashjian said. ''It's understandable that after such a strong first half that the consumer would be a little bit concerned about more spending.''> |
