CONSUMER CONFIDENCE HITS TWO-YEAR HIGH; JOB GROWTH CITED

NEW YORK -- Consumer confidence reached a two-year high last week, sending some supermarket stocks up. Yet other retail sectors took it on the chin after Target lowered its sales outlook.Target, Minneapolis, cautioned that its same-store sales forecasts would fall "well below plan" from earlier estimates of 5% to 7%. Wal-Mart Stores, Bentonville, Ark., similarly lowered its sales expectations Monday

NEW YORK -- Consumer confidence reached a two-year high last week, sending some supermarket stocks up. Yet other retail sectors took it on the chin after Target lowered its sales outlook.

Target, Minneapolis, cautioned that its same-store sales forecasts would fall "well below plan" from earlier estimates of 5% to 7%. Wal-Mart Stores, Bentonville, Ark., similarly lowered its sales expectations Monday to 2% to 4% from 4% to 6%.

Bad weather and poor Father's Day demand prompted

Register to view the full article

TAGS: Walmart