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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Andeveron who wrote (19867)	9/3/1998 11:04:00 AM
From: Jerry Olson	Respond to of 50167

FWIW Retailers Report Weak August Sales By RACHEL BECK AP Business Writer NEW YORK (AP) -- The nation's biggest retailers reported today weak sales for August, with the decline mostly blamed on a late Labor Day holiday but also attributed to signs of slowing consumer spending. It was the first month of 1998 that sales at many stores fell below expectations. That raised concerns about the outlook for the rest of the year, especially during the Christmas season. ''We can't conclude too much from August because last year, Labor Day came one week earlier and much of the back-to-school sale activity fell in August,'' said Kurt Barnard, a retail consultant and president of Barnard's Retail Trend Report. ''But there is no question that we are facing something else at the same time,'' he said. ''There is a slight deceleration of shopping momentum as we see signs the economy is slowing.'' Retailers have been enjoying one of the best years in recent history thanks to a healthy economy, high levels of consumer confidence, low inflation and unemployment levels, and a surging stock market. But signs that the economy's growth may be slowing, coupled with a steep summer slide in the stock market, has left many worrying that the good times for retailers may be winding down. The Dow Jones industrial average is down about 18 percent from its record close of 9,337.97 on July 17. The blue-chip index today was down 116.37 at 7,666 at midmorning. ''The problems with the stock market haven't trickled down yet to the consumer, but that doesn't mean they won't,'' said Jeffrey Feiner, managing director at Lehman Brothers Inc. Those hardest hit by the late Labor Day were those retailers who depend on clothes and accessories for back to school, like Federated Department Stores Inc. (NYSE:FD - news), Sears, Roebuck & Co. (NYSE:S - news), and May Department Stores Co. (NYSE:MAY - news) Faring best last month were discount retailers, who continue to entice shoppers with their low prices and wide selection. Wal (NYSE:WMT - news)-Mart Stores Inc. had another stellar month, while sales were also strong at Dayton Hudson's (NYSE:DH - news) Target discount stores. Wal-Mart, the nation's largest retailer, said its sales from stores open at least a year rose 7.6 percent from a year earlier, while total sales were up 16.2 percent. Sales from stores open at least a year, known as same-store sales, are considered the most accurate measure of a retailer's strength. Other retailers' reports: --Sears: Same-store sales down 0.3 percent, total sales down 0.7 percent. --Kmart: Same-store sales up 2.9 percent, total sales up 3.1 percent. --J.C. Penney (NYSE:JCP - news): Same-store department store sales down 2.4 percent, same-store sales at Eckerd drugstores up 9 percent, total sales up 1.2 percent. --Dayton Hudson: Same-store sales up 3.3 percent, total sales up 8.4 percent. --Federated: Same-store sales down 1.3 percent, total sales down 1.7 percent. --May Department Stores: Same-store sales down 0.7 percent, total sales wer flat. --Limited: Same-store sales up 7 percent, total sales down 3 percent. --Gap: Same-store sales up 9 percent, total sales up 33 percent. More Quotes and News: Dayton-Hudson Corp (NYSE:DH - news) Federated Department Stores Inc (NYSE:FD - news) JC Penney Company Inc (NYSE:JCP - news) K Mart Corp (NYSE:KM - news) May Department Stores Co (NYSE:MAY - news) Sears, Roebuck and Co (NYSE:S - news) Wal-Mart Stores Inc (NYSE:WMT - news) Related News Categories: retail Help Copyright c 1998 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten, or redistributed without the prior written authority of The Associated Press. S

To: Andeveron who wrote (19867)	9/3/1998 11:28:00 AM
From: IQBAL LATIF	Read Replies (3) \| Respond to of 50167

If the market moves to 965 and break it I will advise long 940's, I will like to see how we cope at 955 which I think will pass thru this new test if it comes- you look any way you want the Europeans gave a very negative cue to the market, we did open 22 lower and we nearly recovered everything, now as we move back into ASEA from today's close barring any late night sell off this market and Latin America if it acts the way I have projected will give new direction- the $ weakness was bad news for Europe but very good news for ASEA and Latin America- in the presently hyped scenario we will see deflationary threats being punctured by ASEA- -I will bet on ASEA and Latin America reversing from here, with major techs giving market direction, what else one wants an earning revision upward on INTC-- if one cannot heed to these signals I don't know what else will help a short... On the other hand to short the market do it convincingly below 950 for a ride to 850 area but I would think this is a very far fetched option, I will stay a contararian I am trying my best to make a good case of what is in my opinion the best possible approach.. My trade of today morning is another example of how people are profiting from this very excessive fear..On Russian civil war possibility I think spend some money go out in Oct and buy 4 times the size of your portfolio S&P options long puts around 890 level- if Russians start firing we will see this market at 6500- so nothing to fear once you do that atleast you do not loose the upside play.