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To: Dale Baker who wrote (30879)	8/22/2002 2:04:24 PM
From: Dale Baker	Read Replies (1) \| Respond to of 118717

Restaurant darlings lost their shine: 13:29 ET Weak Groups Retailers and Restaurants are two standout groups to the downside today. Retailers (e.g., STGS -12%, MW -10%, WTSLA -9%, WSM -8%, SPLS -4%) continue to demonstrate relative weakness in recent action as monthly and quarterly results begin to underperform in many cases. After piling into retailers over the past yr as companies continued to beat numbers and raise guidance, investors expressing disappointment when comps are light and/or estimates are not guided higher. The Restaurant group had also outperformed during the market downturn. Failure this morning by PNRA (-8%) to beat consensus or raise guidance is helping to lower confidence in the space. Also remember that investors expressed major disappointment with fast-food names in reaction to disappointing comps posted by AFCE (-5.5%) earlier this month. Other standout losers in group today include SONC -10.3%, PFCB -3.5%, BOBE -3.2%.