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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 227.35

+0.3%

Dec 19 9:30 AM EST

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To: GST who wrote (44823)	3/9/1999 7:13:00 PM
From: Glenn D. Rudolph	Read Replies (1) of 164684

March Sales — Week 1 Sales started somewhat slowly at the beginning of March compared to the torrid comp store sales pace set in January and February. Many broadline retailers were affected by winter storm conditions that slowed consumer traffic. Nevertheless, most broadliners posted comp store sales gains in line to only slightly below plan. March and April comps are affected this year by the early arrival of Easter, with March benefiting at the expense of April sales. Broadline retailers' plans reflect this shift, with sales plans higher than normal. Broadliners could face problems in the spring if cold weather lingers because the early arrival of warm weather in 1998 boosted spring comps noticeably. We forecast our Merrill Lynch Broadline Index of same store sales should increase 3% to 4% in March, in line with the 3.9% gain last year. Merrill Lynch Same Store Sales Estimates — March Price Rating Mar 98 Mar 99 Plan Est. MTD Trend Department Stores Dillard – DDS 24 5/16 C-3-2-7 2.0 2-4 In Line Federated – FD 39 1/16 C-3-1-9 0.9 4-5 In Line May – MAY 59 13/16 B-3-2-7 7.3 0-(2) Slightly Below Nordstrom – NOBE 40 B-1-1-7 (4.0) (1)-(3) In Line JC Penney – JCP 37 º C-3-2-7 2.8 0-1 Below Saks – SKS 33 9/16 D-1-1-9 3.0 2-4 In Line Department Store Composite 2.5 1-3 Slightly Below General Merchandisers Dayton Hudson - DG 69 B-1-1-7 2.8 7-9 In Line Dept. Stores 8.6 9-11 Below Mervyn's 3.9 7-9 In Line Target 9.7 2-4 Slightly Above Dollar General – DG 33 1/8 B-1-1-7 16.8 2-4 In Line Family Dollar – FDO 21 7/8 B-1-1-7 3.0 6-8 In Line Kmart - KM 17 5/16 D-1-1-9 (1.2) 5-7 Slightly Above ShopKo – SKO 31 * C-2-2-9 3.7 3-5 In Line Costco - COST 90 º B-2-2-9 9.0 5-7 In Line Sears – S 43 11/16 B-2-1-7 4.7 0-2 In Line WalMart – WMT 93 7/16 A-1-1-7 6.2 7-9 In Line WalMart Stores 5.4 7-9 In Line Sam's 9.2 7-9 In Line General Merchandise Composite 5.6 5-6 In Line Broadline Composite 3.9 3-4 In Line Companies which don't give weekly sales guidance; MTD – Month To Date; Rstr – Restricted Bulletin United States Retailing/Broadlines 9 March 1999 Daniel D. Barry First Vice President Glenn M. Salzman Industry Analyst Retailing — Broadlines Severe Weather Slows Comp Store Sales Reason for Report: Weekly Sales Analysis Merrill Lynch & Co. Global Securities Research & Economics Group Global Fundamental Equity Research Department RC#10206812 Industry

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