Wal-Mart dropped a bomb on the market with earnings guidance at the low end of its 82-86 cents range, as they clearly saw some margin pressure and most likely increased advertising and promotional expenses.
More Quotes from Ken Perkins:
We don't have an opinion or more importantly a vote one way or another. We're not thrilled with it ... but it's essentially up to the analysts.Ken Perkins
On the economic front, there haven't been significant improvements in jobs and wage growth, and the comparable sales comparisons are only getting tougher, ... It sounds reasonable to expect big discounts this year. The macro factors would suggest it.
Ken Perkins
All groups showed comparable sales up over 5 percent for the month, ... The economy is certainly an element of the upside surprises. We saw back-to-back quarters of GDP growth. People also anticipate a significant amount of fiscal spending particularly in an election year. This bodes well for consumer sentiment.
Ken Perkins
On average, comparable sales grew 5.8 percent just in those three months compared to an average of 2.6 percent in the last six months of 2004, ... The first-half of the year will be a big challenge.
Ken Perkins
The deceleration in earnings growth is a significant concern. Techs are up against steep comparisons in the second half of this year and the first half of next year,
Ken Perkins
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