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Market Update : 
Lower Retail Sales
Author: 123jump.com Staff
123jump.com
Last Update: 2:55 PM ET August 04 2005


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Teenage retailers remain the star of the retail sales report. Abercrombie, Urban outfitters, American Eagle keep taking market share way from Limited, Gap and other established store chains. Crude oil and gold is up but silver and copper is trading lower. Exxon Mobil's CEO and Chairman to retire at the end of this year.

 
Gap, retailer, posted 2Q same-store sales decline of 3% with net sales flat at $3.72 billion. The company expects quarterly earnings of 28 to 29 cents a share, including one-time gain of 8 cents a share.

Family Dollar Stores, retailer, posted 1.6% comparable-store sales drop for July, but 5.7% increase in total sales to $418.8 million. The company expects flat 4Q same-store sales and lower earnings of 17 to 25 cents a share.

Central European Media Enterprises, reported 2Q three-fold higher net income, or 72 cents a share vs. 21 cents a year ago on revenue growth of 152%.

Dollar General, discount retailer, reported 2Q same-store sales rose 3.9% on strong food sales, pet supplies and paper products with total sales increase of 13% to $617.1 million.

BJ's Wholesale Club, warehouse clubs operator, said its same-store sales rose 4.7% in July, together with a 9.3% rise in total sales to $582.3 million on strong gasoline sales.

Cadmus Communications, integrated graphic communication services provider, posted 4Q net income of 13 cents a share against a loss of 22 cents a share in the year-ago period on growth in sales.

Revlon, cosmetics and skin care manufacturer, posted a 2Q loss of 10 cents a share, vs. a loss of 11 cents a share in the year-ago period, despite slight revenue growth compared with last year, but missing analysts' estimate by a penny.

Tesoro, petroleum products and marine logistics services provider, posted a decline in 2Q net income of $2.62 a share, down from. $3.11 a share in the same period last year on higher expenses, beating expectations of $2.48 a share.

Huntsman, chemical company, posted earnings of 73 cents a share, up from a loss of 29 cents a share from the same period last year on revenue growth, missing forecasts of 82 cents a share.

Talbots, apparel retailer, posted 2Q 12% sales growth of $449.6 million and 6.7% same-store sales increase. The company raised its quarterly earnings to the range of 33 to 34 cents a share, up from 28 to 32 cents.

Chico’s FAS, specialty retailer, reported 15.7% same-store sales rise. The company projected 2Q earnings between 26 and 27 cents a share.

WPS Resources, electric power and gas provider, posted 2Q net income jump of 62 cents per share , up from 12 cents a year ago on expanded markets and favorable prices.

Gillette, consumer products manufacturer, reported 2Q earnings increase of 49 cents a share compared with 42 cents last year on 13% sales growth and favorable exchange rates. The company is being acquired by Procter & Gamble.

Top Tankers, oil tanker shipping company, reported 2Q profit decline of 49 cents compared with 95 cents for the comparable quarter last year on revenue growth of $56.3 million.

Ipayment, credit provider, posted 2Q profit increase of 43 cents a share vs. 32 cents a year earlier on doubled revenue of $181.14 million, missing estimates by a penny.

Sypris Solutions, diversified technology-based outsourced services provider, posted 2Q earnings of 11 cents a share, flat with year-ago results, beating analysts' estimate by a penny.

MedCath, heart hospitals operator, posted 3Q net income of 14 cents a share, up vs. 7 cents a share a year earlier on higher patient volumes, missing expectations of 20 cents a share.

Wet Seal, a specialty retailer, posted July net sales of $37.6 million, up vs. $32.7 million for the same period last year, with comparable-store sales rise of 50.9% for the cited period, compared with a decline of 14.7% a year ago.

Sunrise Senior Living, provider of senior living services, posted 2Q earnings of 46 cents a share, down vs. 66 cents in the same period a year earlier, beating analyst estimate of 37 cents a share.

Finlay Enterprises, a fine jewelry retailer, announced that same-store sales rose 0.1% in 2Q with a total sales increase of 5.9% to $199.8 million.
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