NYT/Reuters: Retailers' Sales Surge but Wal-Mart Issues Warning

[DeepModem Mom]

Retailers' Sales Surge but Wal-Mart Issues Warning
By REUTERS

Published: April 7, 2005


NEW YORK (Reuters) - The early Easter holiday drove U.S. shoppers to malls and shopping centers last month, helping retailers on Thursday to report strong March same-store sales, but a profit warning from Wal-Mart signaled difficult times ahead and dragged on stocks.

***

Wal-Mart Stores Inc. (WMT.N) reported sales at stores open at least a year rose 4.3 percent as customers on average bought more items per shopping trip. Easter-specific items sold about as well as last year, but the unusually soggy weather dented sales of spring merchandise, the world's largest retailer said.

Wal-Mart also said it expects first-quarter earnings to be around the low end of its prior forecast of 56 cents to 58 cents per share, with sales landing at the low end of expectations....

***

``Americans are basically in distress as a result of the high cost of gasoline,'' Kurt Barnard, president of Barnard's Retail Consulting Group said. ``People are tapping into their savings in order to buy the latest fashions, and they are also adding to their credit card balances, neither of which is exactly the medicine the doctor has ordered.''

The Standard & Poor's retail index (.RLX) sagged 0.9 percent....


http://www.nytimes.com/reuters/business/business-retail-sales.html

[Options Remain]

1. now if only we could get a boycott to impact them

bastids.

[tubbacheez]

2. People are living above their means.

I guess the best thing we can individually do would be to live below ours.




If we devalue the latest fashions and gadgets, maybe some of this red-hot demand will cool.

Living well doesn't necessarily mean buying lots of expensive stuff.

[Blue Gardener]

3. Hey Wal Mart

Maybe it has nothing to do with the price of gasoline. Maybe more people are figuring out how much you suck, and are shopping elsewhere.

[natrat]

5. you suck wallmart

i got your nasty weather right here baby

[booksenkatz]

4. Ah, yes, that nasty soggy weather

They always blame the weather, don't they?
:eyes:

[xchrom]

6. america = shop til you drop.

and wal mart?
wal mart can kiss my ass.
hate wal mart -- and all ''mega lo mart'' stores.