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Retailers reiterate sales forecasts
Wal-Mart, Federated leave November forecasts unchanged, cite cloudy Thanksgiving outlook.
November 25, 2002: 9:40 AM EST

NEW YORK (CNN/Money) - Uncertain about the strength of Friday's official holiday shopping season kickoff, Wal-Mart Stores Inc. and Federated Department Stores Monday reiterated expectations for sluggish November sales.

Wal-Mart (WMT: down $0.45 to $53.31, Research, Estimates), the world's largest retailer, said it continues to expect November sales at stores open at least a year, a key gauge known as same-store sales, at the low end of its forecast for a 2-to-4 percent increase. The Bentonville, Ark.-based chain said a calendar shift that pushes Thanksgiving later this year makes year-over-year comparisons difficult to predict.

Wal-Mart shares finished down 19 cents at $53.76 Friday.

Meanwhile, Federated, (FD: down $0.76 to $31.60, Research, Estimates) parent of Macy's and Bloomingdale's, said it continues to expect November same-store sales that are flat to down 2.5 percent for the November/December period. However, the Cincinnati-based retailer said it could not provide accurate guidance on November sales, which continue to be disappointing.

Federated's shares shed 43 cents to finish Friday's session at $32.36.

Retailers are concerned that a difficult economy and worries about a potential war with Iraq could dampen sales during the holiday shopping season, when merchants typically make up to half their annual profits and sales. However, the industry as a whole remains cautiously optimistic as they offer big discounts early to help entice consumers.  Top of page




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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.