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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Silver Super Bull who wrote (2867)	12/4/2003 9:54:03 AM
From: russwinter	Read Replies (2) \| Respond to of 110194

Associated Press Wal-Mart and other leading retailers report mixed November sales Thursday December 4, 9:48 am ET By Anne D'Innocenzio, AP Business Writer NEW YORK (AP) -- Despite early signs that holiday sales were off to a solid start, the leading retailers in the United States reported mixed sales Thursday for the Thanksgiving weekend and all of November. Wal-Mart Stores Inc. had a modest sales gain, while department stores struggled. Luxury retailers including Saks Inc. and Neiman Marcus Group reported sales that beat expectations, and Gap Inc. continued its upward sales momentum. The results were somewhat disappointing after initial reports indicated the retail industry had an upbeat start to the critical holiday shopping season. Analysts and retailers went into the season with hopes that the improving economy would lift sales. Wal-Mart reported a 3.9 percent gain in sales at store open at least a year, matching Wall Street projections that were lowered after the discounter reported a modest start to the holiday season. Those sales, known as same-store sales, are considered the best indicator of a retailer's health. According to Thomson First Call, the original consensus had been for a 4.1 percent gain. Wal-Mart's total sales were up 11.2 percent. November results at Sears, Roebuck and Co. and Kohl's Corp. were disappointing. Sears reported same-store sales fell 3.6 percent; analysts had forecast a 1 percent gain. Sears' total sales were down 3.2 percent. "Overall, November results were below expectations and we are disappointed that the results weren't stronger," Sears chairman and CEO Alan J. Lacy said in a statement. Kohl's same-store sales declined 4.4 percent, more than the 3.1 percent decline analysts expected. Total sales were up 9.3 percent. Federated Department Stores Inc. said same-store sales slipped 0.1 percent; analysts surveyed by Thomson First Call expected the retailer to report a 0.2 percent gain. Total sales were down 0.8 percent at Federated. J.C. Penney Co. Inc. posted a 0.8 percent decline in same-store sales at its department stores for the four weeks ending Nov. 22, in line with analysts' forecast for a decline of 0.4 percent. Penney noted the results did not include the "strong sales" for the Thanksgiving holiday week. Total sales were up 0.3 percent.