ACCESS REALMONEY
Retail
Wal-Mart Sales Top Estimates
05/08/08 - 03:58 PM EDT
- Article Tools
- Email this Article
- Print this Article
- Rss Feed
- Related Articles
- Retailers Report Strong April Sales
- McDonald's Global Comps Rise 5% in April
- Target to Sell Some Card Receivables
- Del.icio.us
- Digg
- StumbleUpon
Updated from 12:34 p.m. EDT Retailers surprised Wall Street to the upside Thursday, as Wal-MartWMT, CostcoCOST and several big names reported rising April sales. Wal-Mart said April same-store sales climbed 3.2% last month, excluding fuel sales, a result that topped expectations. Total sales for the month climbed 9.8% to $29.18 billion. Shares were recently up 1% to $57.39. Costco said comps were up 8% last month. Its shares were flat on the day at $72.09. BJ's WholesaleBJ had an increase of 17.8% in comps and GapGPS was also a positive, lifting its first-quarter profit forecast. Those two stocks were down 2.44% and 0.77%, respectively. On the down side, Limited LTD had a same-store sales decline of 5%. Its shares are up on the day, at $17.90. Elsewhere in retail, Best BuyBBY was off 88 cents, to $42.57. The retailer said it is investing $2.1 billion for a 50% stake in The Carphone Warehouse, Europe's largest cell phone retailer.
Wal-Mart, Costco and others surprise Wall Street with unexpectedly strong sales.
Shares are little changed in early trading.
JPMorgan Chase will buy the receivables for approximately $3.6 billion.
Yahoo! is among the most searched stocks on TheStreet.com. Here's what Cramer had to say about the stock recently.
Catch up on his thinking on the hottest topics of the past week.
Investors will have to deal with a Fed meeting and another flood of earnings and economic data.
Ensco International and Echelon have the potential to move higher in coming days.
See who made what calls.
The addition of video is helping telecom companies compete against cable and satellite companies.
The June West Texas Intermediate contract reflects selling pressure ahead of Tuesday's expiration. But stocks in the sector are generally trading higher.
See who made what calls.
Keep on top of the market and the critical information you need to make more profitable investing decisions.
Sponsored by:
RSS
