My charts only go back four years... is this the channell that it is bouncing off??
Cheers
...........Kauri
Wal-Mart sales soft, but ups profit forecast
No. 1 retailer's March sales at the lower end of its guidance, but tighter inventories help boost earnings outlook for current quarter.
CNNMoney.com senior writer
Last Updated: April 10, 2008: 7:55 AM EDT
NEW YORK (CNNMoney.com) -- Wal-Mart Stores on Thursday blamed an early Easter and weather woes for March sales that were at the lower end of its guidance.
However, the world's largest retailer upped its fiscal first-quarter profit guidance, citing tighter inventory levels that helped it to reduce additional discounts in the period.
Wal-Mart (WMT, Fortune 500) said sales at its stores open at least a year, a key measure of retail performance known as same-store sales, rose 0.7%, which was at the lower-end of its guidance of being flat to up 2% for the month.
The retailer said a shift in the holiday calendar, which resulted in the Easter holiday coming about a month earlier than last year, negatively hurt sales last month.
"[With] Easter coming much earlier this year, the traditional selling period for the holiday was shorter," the company said in a statement.
Wal-Mart also blamed cooler weather in March for weak sales of spring and summer clothing. But the retailer said sales of grocery, health and wellness and entertainment products were stronger in the month.
For April, the company expects same-store sales to be up 1% to 3%. "This guidance is slightly higher than our comparable sales guidance of the previous two months, which has been flat to 2%," said Wal-Mart chief financial officer Tom Schoewe.
Wal-Mart also raised its first-quarter profit forecast to between 74 to 76 cents a share from its previous estimate of 70 to 74 cents a share.
Analysts polled by earnings tracker Thomson Financial had expected the retailer to earn 72 cents a share for the quarter.
CNN Money BREAKING NEWS: The U.S. trade deficit surprisingly rises to $62.3 billion. More soon.
I think I predicted big Wal would hold it's own... actually might out perform a bit.
Those tight inventory controls!
See... even the weather and timing of easter affect the economy. It's not all 'sub primes' fault!:
Well, the Boe has finally cut... 25bp.
I think that Big Wally is amongst the 20% that have managed not to dissapoint of the chains that have reported so far.. meanwhile to add to the 80% that have come up short, Gap"s 18% decline in March and the fall in Nordstrom of 9.1% for same store sales as consumer demand continues to collapse. Target sales fell 4.4%, much more than the market expected.
Cheers
.........Kauri
What is now evident is that the intention of the BoE MPC is diametrically opposed to their official remit of targeting inflation. The MPC is now directly targeting house prices. A 180% rise is quite OK, but a 2.5% drop is totally unacceptable.
Savers screwed again.
I think that Big Wally is amongst the 20% that have managed not to dissapoint of the chains that have reported so far.. meanwhile to add to the 80% that have come up short, Gap"s 18% decline in March and the fall in Nordstrom of 9.1% for same store sales as consumer demand continues to collapse. Target sales fell 4.4%, much more than the market expected.
Cheers
.........Kauri
I don't have a lot of time for Anatole Kaletski, even though he has now joined the bear camp... he's a t0sser of the first order.Maybe they read (and believe what they read) the papers..
Cheers
...........Kauri
http://business.timesonline.co.uk/tol/business/
I don't have a lot of time for Anatole Kaletski, even though he has now joined the bear camp... he's a t0sser of the first order.
This clown, up until about six weeks ago was an uberbull, treating bears as heretics, tin foil hatters and doom-mongers. He has only jumped the fence in the face of looking like the jerk he truly is.
Note how he hedges himself in the article with the old "small island, and limited supply" nonsense.
Should give the livestock a bit of a start though.
Yep agree there. That's why I still read him. There are able analysts who I like to read as food for thought.. and then there are the sentiment markers. Sometimes it's hard to tell the difference.... sometimes not.Couldn't agree more, most of the media could pull off a U-Turn on the M3 in rush hour without breaking wind, .....butt... inthe modern age the media shapes our perceptions a lot more than peeple realise.. and as such, I sit, and observe... and wait.. and.. aaahh, my glass is empty, I can see the de bouton.
Cheers
............from me.. and hymn..
Hi,
Nothing but doom and gloom in the headlines, billions lost in banking, housing and consumer sales, the world as we know it is coming to an end. It is as clear as the nose on my face....
But the SPoos go up......hmm. ( at present anyway)
bye
brty
Yep agree there. That's why I still read him. There are able analysts who I like to read as food for thought.. and then there are the sentiment markers. Sometimes it's hard to tell the difference.... sometimes not.:
I reckon Jeremy Clarkeson has a better idea than Anatole... and is amusing to boot.
Never fight the tape... just don't nail the scrip to the bottom drawer.Hi,
The media is telling us one thing, the market is saying another. Which one is usually correct??
bye
brty
Hi,
The media is telling us one thing, the market is saying another. Which one is usually correct??
bye
brty
I think that Big Wally is amongst the 20% that have managed not to dissapoint of the chains that have reported so far.. meanwhile to add to the 80% that have come up short, Gap"s 18% decline in March and the fall in Nordstrom of 9.1% for same store sales as consumer demand continues to collapse. Target sales fell 4.4%, much more than the market expected.
Cheers
.........Kauri
Fresh collapse hits finance industry
Michael Sainsbury | April 11, 2008
THE nation's financial sector has suffered a fresh blow with administrators appointed to boutique lending group Lift Capital.
The appointment last night follows the $1.3 billion collapse of Melbourne stockbroker Opes Prime and continuing woes of another broking firm, Tricom.
Tony McGrath and Joseph Hayes of corporate recovery and advisory firm McGrathNicol were appointed as voluntary administrators of Sydney-based Lift Capital Partners Pty Ltd as well as Lift Capital Nominees No 1.
The scale of the latest collapse is not yet clear. Lift operates as a margin lender, with about 1600 clients owning investments predominantly in listed shares and managed funds.
A secured creditor, understood to be Merrill Lynch, has a fixed charge over the listed shares secured against funds advanced to Lift Capital...
http://www.theaustralian.news.com.au/story/0,25197,23522184-5014006,00.html
US consumers hit the brakes
April 11, 2008
CONSUMER spending drives the US economy, and latest sales figures show retail sales at stores that have been open for at least a year fell by 0.5 per cent in March, compared with a year ago.
The results, the weakest March showing in 13 years, are based on reports from 37 national retailers.
Consumer spending represents 70 per cent of the gross domestic product in the US - and is the largest contributor to economic growth, according to the National Retail Federation.
Consumers have bailed out the US economy in the past, but yesterday’s numbers are more evidence that the US shopper is tapped out.
http://www.theaustralian.news.com.au/story/0,25197,23522276-5014006,00.html
The results, the weakest March showing in 13 years...
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