Wal-Mart sales up 8 pct. in December

NEW YORK - Retailers reporting their December sales results are confirming that the discounters generally fared best. Traditional department and apparel stores were often seeing lackluster results.

Wal-Mart, the nation's largest retailer, says sales at stores open at least a year rose eight percent, topping expectations.

JC Penney and Target also delivered slightly better numbers than expected.

While K-mart says December same-store sales weren't as bad as feared, earnings for the year will fall short. K-mart says it's reviewing its cash situation and is in talks with lenders.

Gap Inc. says December same-store sales dropped 11 percent from a year ago, and expects a fourth-quarter loss ``no worse'' than six cents a share, which is better than what Wall Street has been looking for.

http://accesswdun.com/article/2002/1/200383