Thursday, October 05, 2006

Retail Sales Up Sharply In September

October 5, 2006

For satellite radio this is great news. With mixed signals on the retail front regarding these equities, and some expressing concern that satellite radio is discressionary and would lose favor in the face of high gas prices, strong retail sales is welcomed.

According to the associated Press, September saw a healthy boost in retail sales last month. If this is indicative of what is to come in the holiday season, satellite radio investors can at least rest a bit easier.

Article Excerpt:

AP Retail Sales Rise Sharply in September
Thursday October 5, 10:09 am ET
By Anne D'Innocenzio, AP Business Writer

"Retailers Report Strong Gains for September, Aided by Cooler Weather and Falling Gas Prices
NEW YORK (AP) -- Shoppers encouraged by cooler temperatures and falling gas prices went on a clothes shopping spree in September, giving many retailers better-than-expected gains and lifting the industry's spirits two months before the holiday season. A notable exception was Wal-Mart Stores Inc.

As retailers reported their results Thursday, the winners crossed many categories, with department stores and teen merchants including Bebe Stores Inc., J.C. Penney Co. Inc. and Saks Inc. among the leaders.

The laggards again included Gap Inc. and Pier 1 Imports Inc., whose sales continue to languish.
Nonetheless, "this is a really strong month," said Ken Perkins, president of Retail Metrics LLC, a research firm in Swampscott, Mass. "The back-to-school momentum was strong, weather was really favorable and the big plummet in gasoline prices certainly put more disposable money into consumers' wallets."

Of the first 44 retailers to report September results, 32 topped analysts' expectations and 12 fell short, according to Thomson Financial........"

Interested SSG readers can catch the entire article HERE

10/05/2006 10:43:00 AM

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