Man Without Qualities

Thursday, January 09, 2003

Maybe Not So Happy Returns

But then there's this - which paints a very gloomy picture of retail.

But retail stocks were up, anyway.


One report says: Retailers ... got a boost from Wal-Mart Stores Inc., which said holiday sales landed in line with lowered expectations.

So that seems to say that WalMart's performance is a positive.

But Kevin Tawes, retail analyst with Independence Investments, an affiliate of John Hancock Financial Services, said:

"It's hard to remember the last time when stalwarts like Wal-Mart, Kohl's and Target all slumped together."

So that seems to say thay WalMart's performance is a negative.

But Mark Foster, chief investment officer at Kirr, Marbach & Co. said:

"The retail names are doing better. ... Everyone had predicted a pretty horrible Christmas (spending period), but relative to expectations, it wasn't that bad."

Aren't you glad that all got cleared up?

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