Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Sully- who wrote (45724)	12/31/2001 4:14:50 PM
From: Sully-	Respond to of 65232

Retailers Do Better Than Expected Major Retailers Do Better Than Expected in Fourth Week of December By BRAD FOSS AP Business Writer NEW YORK (AP) -- Three of the nation's largest retailers said Monday that sales were stronger than expected in the fourth week of December. Federated Department Stores Inc. said sales at stores open at least a year, known as same-store sales, were down sharply for the period compared with last year, but above earlier expectations. Federated, based in Cincinnati, said in a news release it expects so-called same store sales for the month of December to be down 9-9.5 percent -- better than the original forecast of a decline of 11-14 percent. The company said its monthly performance was helped by sales occurring between Dec. 23 to Dec. 29. Wal-Mart Stores Inc., based in Bentonville, Ark., said sales for the week were better-than-expected, but that monthly sales will be at the lower end of its expectation of a 4-6 percent increase. Kmart Corp. said in a recorded message that sales from Dec. 20 to Dec. 26 were ``above plan,'' with high-ticket items, such as television sets and video game consoles, leading the way. For the month of December, though, the Troy, Mich.-based retailer said its sales were ``below plan''; the company had anticipated results for the month to be flat or to increase by 2 percent. The company will release complete sales results for the month Jan. 10. In trading Monday on the New York Stock Exchange, shares of Federated rose 39 cents to close at $40.90, while those of Kmart gained 8 cents to $5.46. Wal-Mart's stock declined by 80 cents to $57.55 on the NYSE. biz.yahoo.com