graphic
graphic  
graphic
News > Companies
graphic
Wal-Mart, Federated sales lag
Companies both lament lackluster 'same-store' sales; Wal-Mart cites warm weather woes.
August 19, 2002: 9:54 AM EDT

NEW YORK (CNN/Money) - Both Wal-Mart Stores Inc. and Federated Department Stores Inc. Monday reported disappointing back-to-school sales at stores open for at least a year.

Bentonville, Ark.-based Wal-Mart, the world's largest retailer, said "same-store" sales are running at the low end of its forecast for a rise of 4-to-6 percent in August, with warm weather hurting back-to-school sales.

The data are for the period Aug. 3-16. The four-week August sales period runs from Aug. 3 to Aug. 30.

"Back to school is off to a slow start as warm weather has affected apparel sales," Wal-Mart said in a weekly sales update message.

Best-selling products have included food, pet supplies, automotive supplies and electronics, the retailer said.

Wal-Mart (WMT: Research, Estimates) shares fell 92 cents to $53.79 Friday.

Separately, Cincinnati-based Federated said "same-store" sales were running below company expectations in the first two weeks of August.

The parent of Macy's and Bloomingdale's had said last week that it expected same-store sales to be down 1 percent-to-3 percent in the four-week August sales period.

Federated (FD: Research, Estimates) shares rose 13 cents Friday to close at $37.13.  Top of page


-- from staff and wire reports




  More on NEWS
Banker's bonuses: 40% bigger this year
Sprint to slash up to 2,500 jobs
Electric Cadillac may be on the way
  TODAY'S TOP STORIES
Dow surges to 13-month high
Go the distance - Dividends for the long run
Sprint to slash up to 2,500 jobs




graphic graphic

© 2009 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy
Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.