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Non-Tech : Costco, slow but sure? -- Ignore unavailable to you. Want to Upgrade?

To: Mel Fox who wrote (923)	8/26/1999 9:14:00 AM
From: Starfish*	Read Replies (1) \| Respond to of 1147

Here is Merrils release from Yahoo News< what doesn't make sense to me is that WMT was included, cost wasn't yet, WMT closed up, COST down, doesn't change my position on Cost though. Wednesday August 25, 10:10 am Eastern Time (Note: this article is ``in progress'; there will likely be an update soon.) RESEARCH ALERT - Merrill cuts ratings on retailers NEW YORK, Aug 25 (Reuters) - Merrill Lynch said on Wednesday it was recommending shifting to a conservative posture on its retailing group. -- Said retailers relative earnings moderating as corporate profits recover, particularly for global companies. -- Said sales to slow against increasingly tough comparisons over the next twelve months. -- Said retailing stocks typically underperform late in the year. -- Said Internet competition is a growing short-term psychological negative both for sales and costs, although predicts longer term the Internet will be a positive for traditional retailers. -- ``Industry fundamentals remain good as trend toward oligopoly raises investment returns for the stronger companies.' -- ``Despite the recent upward trend in interest rates, a strong negative for retailing stocks, we assume rates will stabilize in the future.' -- ``We believe best positioned retailers are (1) high growth retailers, (2) retailers relatively immune to a sales slowdown and (3) retailers with rapidly improving sector or company fundamentals.' -- Cut its rating on Barnes & Noble (NYSE:BKS - news) to near-term accumulate from buy. -- Cut its rating on Dayton Hudson (NYSE:DH - news) to near-term accumulate from buy. -- Cut its rating on Kohl's Corp. (NYSE:KSS - news) to near-term accumulate from buy. -- Cut its rating on Kmart Corp. (NYSE:KM - news) to near-term accumulate from buy. -- Cut its rating on Nordstrom Inc. (NYSE:JWN - news) to near-term accumulate from buy. -- Cut its rating on J.C. Penney Co. (NYSE:JCP - news) to near-term accumulate from buy. -- Cut its rating on Wal-Mart (NYSE:WMT - news) to near-term accumulate from buy. -- Cut its rating on Borders (NYSE:BGP - news) to near-term neutral from accumulate. -- Cut its rating on Sears (NYSE:S - news) to near-term neutral from accumulate.