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.

Non-Tech : Costco, slow but sure? -- Ignore unavailable to you. Want to Upgrade?

To: Curbstone who wrote (880)	4/16/1999 11:02:00 AM
From: Tom_	Read Replies (1) \| Respond to of 1147

Any guesses why the drop? Here are mine. a) March numbers now in, no driver for further near-term lift, sell-off on news. b) Trading down in concert with Wal-Mart and other retailers. See below. c) Mexican store results. d) Something arcane and options-related. As you can see, I'm reaching. I'm also nibbling.<g> Here's why: U.S. retail stocks down on profit-taking CHICAGO, April 15 (Reuters) - Shares of retail companies, from discounters to department stores and consumer electronics retailers, fell sharply Thursday as investors took profits despite a solid fundamental backdrop. "They've all had great run-ups," said retail industry analyst Alan Mak at Argus Research. "People are just taking some profits." He noted that the blue chip retailers -- the ones that have been the strongest performers financially -- were taking the biggest hit. On Thursday those included Wal-Mart Stores Inc. which was down 2-3/4 at 95-1/4, Dayton Hudson Corp. which lost 2-3/8 to 68-1/2 and Midwest department store Kohl's Corp., which fell 2-3/8 at 72-5/8. "There's nothing wrong with them fundamentally," Mak said. "The economy keeps humming along and these retailers are shocking the world." A week ago, most retailers in the United States reported better-than -expected sales for March, and Kurt Barnard, who publishes Barnard's Retail Trend Report from Upper Montclair, N.J., said indications were that sales have remained brisk so far in April. "So far the month of April has been very good too," he said. "Basically Americans are continuing to spend." But he added that eventually sales will slow as consumers rein in spending to pay off credit card debt, "but sales will continue to be robust." ~~~~~~~~~~ Best wishes, Tom