Retailers Post Mixed News
The retail sector posted mixed data Monday, with
Wal-Mart
(WMT) - Get Walmart Inc. Report
warning on sales and
Toys R Us
(TOY)
narrowing its loss.
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Wal-Mart said its November sales growth will be at the lower end of its previous 2% to 4% guidance. Recently, shares were down 1% to $54.90 on the
New York Stock Exchange
.
Meanwhile,
Federated
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said sales were "disappointing" in the second week of November. The company still expects to see same-store sales for the November to December period to be flat to down 2.5%, in line with its previous guidance. Shares were trading down 2% at $32.11 recently.
Separately, toy retailer Toys R Us said it narrowed its third-quarter loss to $28 million, or 13 cents a share, compared with last year's loss of $44 million, or 22 cents a share. Analysts had expected the company to lose 15 cents a share. Shares were up 6% to $11.07 recently on the news.
