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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (5660)	9/3/2002 3:38:07 PM
From: Softechie	Respond to of 89467

2:43 (Dow Jones) A sudden, sharp drop-off in consumer spending that began in late July didn't reverse itself in August, and retailers on Thursday are expected to record August sales in line with July's grim showing, when comparable sales increased only slightly from year-earlier results. Wal-Mart (WMT) has recently reported weekly results on the low end of its expectation of a 4% to 6% increase in same-store sales, blaming hot weather. "It appears that the retailing landscape has come under pressure as a whole and that August sales have been hit hard on all fronts," says Bill Dreher, an analyst at W.R. Hambrecht. "We do not expect to see blowout back-to-school sales, and instead expect to see the consumer spend more cautiously and make their purchases closer to the time of need." That could push 3Q sales into the clearance month of October, which could in turn threaten 3Q earnings, Dreher says. (JMC)