Jim wrote:
And the source of your quotes and information is?,,,,



"Harry Krause" wrote in message
...
Jim wrote:

Isn't it funny how the libs all of a sudden grow silent when positive economic news
like this is reported (during GWB's Presidency)?

What a coincidence!


Perhaps a taste of reality is in order here, eh?

Wal-Mart's second-quarter net income increased to $2.44 billion, or 56
cents a share, compared with $2.02 billion, or 45 cents a share, a year
earlier. That result included four cents in earnings from discontinued
operations, with a gain from the sale of its McLane grocery-wholesaling
unit.

Net income from continuing operations rose 15% to $2.3 billion, or 52
cents a share, from $2.0 billion, or 45 cents a share, the company said.
The result was in line with estimates given last week when Wal-Mart
reported July sales.

Sales increased 11% to $62.6 billion, while same-store sales increased 3.2%.

"Consumer spending remained sluggish for most of the second quarter, and
Wal- Mart struggled to rid itself of bloated inventories, which had
grown faster than sales during the previous quarter. Heavy markdowns
pressured profits, and inventory at the close of the quarter was up 9%
from year-ago levels - slightly less than sales, but greater than the
company's longer-term goal for inventory to grow at less than half the
rate of sales. Comparable-store inventories increased by a
low-single-digit percentage, Wal-Mart said.

"Despite the markdowns, Wal-Mart managed to shore up profits, CEO Scott
said. The company reduced its rate of "shrinkage," or losses from stolen
and damaged goods, and continued to reap new benefits from increased
buying from cheaper manufacturers overseas.

"In addition, food margins improved even as domestic comparable-food
sales increased 7% to 9%. The company noted that sales of fresh food,
particularly at its Sam's Club unit, have grown swiftly. Fresh food
carries a higher-than- average margin at the company, noted Bill Dreher,
an analyst at Deutsche Bank Securities Inc. in New York."


Not that rosy a picture.










John
On the 'Poco Loco' out of Deale, MD




The New York Stock Exchange news story based upon statements from
Wal-Mart management and those who analyze Wal-Mart stock.

--
* * *
email sent to will *never* get to me.