Retailers expect only modest fall sales gains in cautious market
Los Angeles Daily News reports retailers anticipate a modest fall sales upturn due to a cautious economy. Kmart aims to hold inventory while remaining optimistic about back-to-school sales. Dayton Hudson and Target parent fear weak consumer confidence. Analysts note mixed signs with rising and sinking store performance amid 7.8 percent jobless rate.
MENTIONED IN THIS ARTICLE
Los Angeles
Kmart Corp
Lois Connelly
Troy, Mich
Ann Barkeley
Dayton Hudson Corp
Target
Mervyn’s
Richard Giss
Deloitte & Touche
Top general retailers show varied same store sales
Retailers Wal-Mart Kmart and J C Penney report differing same store sales figures with Wal-Mart at 12 percent, Kmart 2.6 percent, and J C Penney 11 percent amid cautious consumer optimism. Duncan Muir expects steady gains through pricing and quality improvements despite higher fall inventories.
Investors buy stake in bankrupt Continental Airlines
A Houston based Maxxam led group agrees to infuse Continental Airlines with 350 million dollars, gaining about 72 percent control after Chapter 11, to help the carrier emerge as an independent company. The plan, filed in Delaware federal court, follows Continental declaration of Chapter 11 in December 1990 over debt and fuel costs.
MENTIONED IN THIS ARTICLE
Houston
Continental Airlines
Continental
Maxxam Inc
Federal Bankruptcy Court
Delaware
Maxxam Group
Maxxam
Charles Hurwitz
Maxxam Holdings Inc
USDA expects more wheat less corn from 92 harvest
The Agriculture Department reports higher wheat and lower corn yields in 1992, forecasting wheat at 2.23 billion bushels and corn at 8.45 billion. Farm prices are seen easing for wheat by 20 cents and corn rising 10 cents, with wheat reserves lifted to 521 million bushels by May 31 1993.
MENTIONED IN THIS ARTICLE
USDA
Washington
Agriculture Department
Department
World Agricultural Outlook Board
Investors sue Seldane maker over undisclosed heart risks
Investors allege Marion Merrell Dow concealed for two years that Seldane caused heart problems in some users and inflated stock value. The drug maker denies the claims and vows a strong defense. A third class action seeks damages. Dow Chemical owns about 70 percent. The FDA warning linked Seldane to life-threatening arrhythmias in liver disease patients or those taking certain drugs.
MENTIONED IN THIS ARTICLE
Kansas City, Mo
Marion Merrell Dow Inc
Dick Johnson
Kansas City
Marion
Seldane
United States
Food and Drug Administration
New York Stock Exchange
Joseph G. Temple Jr
Fred W. Lyons Jr
David B. Sharrock
Dow Chemical Co. of
Midland, Mich
American Airlines wins bid for O'Hare assets in TWA deal
American Airlines defeated United in a bankruptcy hearing to acquire Trans World Airlines Chicago O'Hare assets. The purchase covers 40 takeoff and landing slots and three gates, strengthening American's access at the busy hub.
MENTIONED IN THIS ARTICLE
Wilmington
Del
American Airlines
Chicago
O’hare
Trans World Airlines
TWA
United Airlines
American
United
U.S
Midland Elevator Rates and Mixed Stock Market Report
Midland Elevator Kansas City area lists Wheat 3.32, Corn 2.45, Soybeans 5.61, and nearby grain values. NY AP market update shows Dow up 30.80 to 3326.78 at midday, NYSE volume 82.55 million, Labor PPI +0.2 percent with core down 0.1 percent, mixed bond tone, and Conner Peripherals earnings up 77 cents. Kansas City cattle sales steady after midweek losses, 74,400 head across steers and heifers, with detailed weights and prices. Omaha and St Joseph hog and cattle quotes noted.
MENTIONED IN THIS ARTICLE
New York
NYSE
Hexcel
IBM
Johnin
Va Kmarts
Lilly
Amoco
Anhous
Min BI
Bk Bost
Ablat
Ma BellSo
Er Spa
Va Morgan
Ana
Boeing T Nh
Jy Newell
Ty BostEd
Namig
Ownlla
Adz Ag
Pepsicit
PhilPet
China
PitnyBs Citicorp
Sears
Sherwin
Silenci
Disney
Rts
Bie Wit
DuPont A
Exxon
Gilleles
Wall Street
Labor Department
Conner Peripherals
Unilab Corp
California
American Stock Exchange
Kansas City
Kansas
Also Mentioned on This Page
Los Angeles Daily News
Giss
Wal-Mart Stores Inc
J.C. Penney Co. Inc
Tepaya
Soin
Ky & Co, Inc
Montgomery Ward, & Co
J.G. Penney Co. Inc
Duncan Muir
Sant Roebuck and Co
O‘hare
N.Y. Bank
Saudi Arabia
BCCI
National Commercial Bank of
Federal Reserve Board
Federal Reserve
Sears, Roebuck and Co
Sears Auto
General Dynamics
General Dynamics Corp
WOON
Midland
Lawrence
Omaha Livestock
Omaha, Neb
Omaha
St. Joseph Livestock
ST. Joseph, Mo
Beebewes
Merck Tee
Jcpenney
Natl Pizza
Quaker
Sallie Mae
Santa Fe
Seafield
TRW Beeeee
Trinova
UtiliCorp
Wal-Mart
Western Fi
Western Resources
Williams
Woolworth
Edward D, Jones Ca
Journal-World
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