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Tuesday, May 11, 2010
Retailers Fall As April Same-Store Sales Disappoint
The Wall Street Journal
Retail stocks were broadly lower Thursday after many reported weaker-than-expected April same-store sales, even as some raised first-quarter earnings guidance based on strength earlier in the quarter.
Expectations going into the results weren't very high--April sales were forecast to show only very modest growth following an extremely strong March that was aided by an early Easter. But many retailers fell short of even those low expectations.
Retail stocks have had a robust run recently as expectations of a more confident U.S. consumer were priced in. Brian Sozzi of Wall Street Strategies said the market has been trained to expect good news.
Link to full article: http://online.wsj.com/article/BT-CO-20100506-715374.html?mod=rss_Hot_Stocks
Posted by Brian Sozzi, Research Analyst
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5/11/2010 - Retailers Fall As April Same-Store Sales Disappoint
5/11/2010 - Coach Caters to Men With New NYC Shop
5/11/2010 - Don't Fret, Target's a Good Bet
5/11/2010 - US same-store sales disappoint
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