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There are varied prospects for the retail store industry in 1999 with increased market share gains for the discount store sector and mixed results foreseen for the department store chains. Efforts to improve marketing through the Internet are being taken by many companies in this industry, either through acquisition or internally. These stocks have outperformed the market for the past several years after a weak 1994 and 1995, but their potential for appreciation for the next three to five years is not great.

More moderate consumer confidence and warmer-than-usual weather were the key factors in lower-than-expected same-store sales at many US department stores during the 3rd qtr of 1998, but share advances are expected through the years 2001-2003. Market share for discount stores sich as Family Dollar Stores and Dollar General continue to expand, as well. Investors need to evaluate individual stocks before selection.

Future prospects for the retail store industry are mixed, especially for department stores where women's apparel sales have been weak in 1997. The outlook for discount stores is better, however, as they continue to gain a greater share of the market. Retail stocks have outperformed the market in 1996 and 1997 after a weak 1994 and 1995. Investors must consider individual stocks, as the industry is unattractive for the next three to five years.

The retail environment has improved considerably in 1997 over 1996, in both same store results and operating profits, especially for department stores. The shift from consumer hard goods and electronics towards a wider range of goods and the development of private-label brands have been two trends in department stores, and the market share for discounters has increased. However, these are not attractive stocks through the years 2000-2002.

Economic growth and stock performance in the retail store industry seems to vary greatly among the individual members of the industry with most observers expecting department stores and discount houses that post strong returns to continue on the same track, or possibly at a slower rate, while the poor performers will have mixed results. Following poor performances in 1994 and 1995, retail store stocks outperformed the market in 1996 and the first quarter of 1997. Investors should seek companies that have and maintain the best competitive edge.

The retail environment, especially for department stores, improved in 1996 in contrast to the lackluster operating profits and same-store sales in 1994 and 1995. Prospects in 1997 are generally sound for the industry, as well. Results for discount stores in 1996 were mixed with increased store counts and sales for some, but not all, chains. A company's future, as well as current advantages, must be considered by investors before commitment.

The environment for the retail industry, especially department stores, has improved in terms of same-store sales and profits in 1996 when compared to 1994 and 1995. Department stores have been accelerating the trend to private labels, as well as changing their merchandise offerings. However, results for discount store chains have been more mixed in 1996. Timeliness for these stocks has increased in 1996, but investors must still be selective.

The environment for the retail industry in operating profits and same-store sales, especially for the department store segment, has improved in 1996 over 1994 and 1995, and stocks of the leading chains are stronger. However, results for discount store chains, such as Wal-Mart Stores Inc and Kmart Corp, have been mixed. Although timeliness for these stocks has increased in 1996, investors must consider long-term competition as well as market share.

The environment for the retail industry is strong in 1996, especially for department stores, compared to 1994 and 1995. The leading department stores are accelerating proprietary brand developments and shifting merchandise offerings, as well as automating internal functions. Results for discount chains, such as Wal-Mart, Kmart, Dollar General, and Family Dollar Stores are more mixed, however. These stocks must be selected on an individual basis.

Trends for same-store sales were weak in the retail store industry during the 4th qtr of 1995, with consumer spending only half the 5% increase of selling space expansion. Small stores with convenient locations helped some chains remain successful, and consolidation and changes in merchandising have enhanced margins for some department stores. Investors should consider stocks with long-term competitive advantages and market share.

Profits are slowing in the retail industry in 1995, due to high promotion levels and and erratic same-store sales. Large item sales and low wage growth are also affecting retail earnings. Consolidation is continuing industry-wide, especially among larger department stores, such as Federated, Macy's, and Wal-Mart. Retail stocks are volatile and investors need to watch Beta trends and other measures before investment.

Retail stores reported weaker 1st qtr earnings in 1995, mainly due to higher interest rates and layoffs. Increased debt service, interest rates, and job insecurity could also lower retail sales in the rest of 1995 and for 1996. Several retail chains, such as Wal-Mart, are opening new stores, however. Retail industry stocks are cyclical and, with exceptions such as Wal-Mart and Kohl's, will underperform the market.

The retail industry is not expected to show much strength in 1995, as interest rates continue to rise and consumer confidence dips again. Declining consumer income levels has also played on the fears consumers have and has caused them to tighten purse strings. The successful retail companies will be those who offer consumers goods with perceived value at prices that are considered reasonable.

A number of influences will affect the performance of the retail store industry. Possibilities such as a weakening of the economy and a slowdown in consumer spending would have a significant impact on the industry's growth. Retailers also have fierce competition for market share, with many of them using value retailing to improve customer traffic. Improvements in customer service and increasing the use of private label will also affect the industry. Investments in this industry will be highly volatile.

Retail store sales suffered from the California earthquake and poor weather but should recover by spring 1994. The latter half of 1993 was marked by improved durable spending, benefitting furniture and home appliance vendors but worsening margins for many broad-based merchandisers. Clothing sales should improve in 1994 and durable sales should continue. Because consumers are looking for value, stores with low operating costs should benefit.

The retail industry is improving with a stronger than expected 1993 holiday season, beginning Nov 1993, and industry stocks are reflecting optimism. Retail stocks rose 10% from Sep to Nov 1993, and two-thirds of the firms' securities experienced gains. Retailers have streamlined their operations and have kept prices down by entering agreements with suppliers. Lower prices and value-for-the-money will be key themes among retailers during the decade. However, the stock group is volatile and investors should invest with caution.

Chains such as Fred's, Dollar General and Family Dollar succeed, even during economic downturns, because they cater to low--and middle-income shoppers living in inner cities or rural towns. The stores, [...]

LATEST FINANCIAL REPORTS (000 omitted) Current % Chge. Year Year Ago CAL-MAINE FOODS, INC. (Jackson, MS) 13 Wks. To Aug. 31: Sales $82,200 14.0% Net Income ($1,710) ..... FAMILY DOLLAR [...]

LATEST FINANCIAL REPORTS (000 omitted) Current % Chge. Year Year Ago CONAGRA FOODS, INC. (Omaha, NE) 13 Wks. To May 26: Sales $6,414,000 -0.2% Net Income $192,200 58.0% Year: Sales [...]

NEW YORK-Dollar General and Family Dollar bucked Wall Street analysts' consensus earnings estimate last week by posting higher net income and stronger gross margins on improved sales. For the fourth [...]

LATEST FINANCIAL REPORTS (000 omitted) Current % Chge. Year Year Ago CARNIVAL CORP. (Miami, FL) Qtr. To Nov. 30: Sales $959,100 13.0% Net Income $116,300[*] -40.0% Year: Sales $4,536,000 20.0% [...]

LATEST FINANCIAL REPORTS (000 omitted) Current % Chge. Year Year Ago CAL-MAINE FOODS, INC. (Jackson, MS) 13 Wks. To Sept. 1: Sales $72,400 -4.1% Net Income $(6,100) ..... COSTCO WHOLESALE [...]

MATTHEWS, NC -- Lifted by stronger same-store sales and and more than 110 net new units, fourth-quarter profits at neighborhood value retailer Family Dollar Stores Inc. jumped up by 11.1 [...]

NEW YORK -- Retail sales warmed up last month as consumers began to take advantage of their tax rebate checks as well as price markdowns on summer inventories. 'Mass retailers [...]

MATTHEWS, N.C. -- Unfavorable trends with gross margins and operating costs held Family Dollar Stores Inc. to a single-digit, bottom-line advance in the third quarter of fiscal 2001, despite a [...]

MATTHEWS, NC -- Third-quarter profits at Family Dollar Stores advanced by 6.9 percent, to $53.5 million from $50.1 million last year, despite sharply higher costs for new store openings, coupled [...]

CHARLOTTE, NC -- Even in this slow economy, Family Dollar had its highest sales and earnings for any third quarter and first three quarters for the quarter ended June 2. [...]

LATEST FINANCIAL REPORTS (000 omitted) Current % Chge. Year Year Ago ATLANTIC PREMIUM BRANDS, LTD. (Northbrook, IL) Quarter to Mar. 31 Sales 31,300 -39.0% Net Income 1,480 315.0% CONSTELLATION BRANDS, [...]

MATTHEWS, N.C. -- Although sales and earnings continued to move ahead at a record pace, Family Dollar Stores Inc. saw net profit margins weaken during fiscal 2001's second quarter and [...]

MATTHEWS, SC -- Boosted by new store openings, a lift in same-store sales and one more week of sales than last year, second-quarter sales at Family Dollar Stores Inc. shot [...]

Current % Chge. Year Year Ago CONAGRA, INC. (Omaha, NE) 13 Weeks to Feb. 25 Sales 6,429,000 8.9% Net Income 98,500 -31.0% 39 Weeks Sales 20,511,000 6.2% Net Income 546,300 [...]

MATTHEWS, N.C. -- First quarter sales and profits moved ahead at a double-digit pace at Family Dollar Stores Inc. Earnings for the period ended November 25 rose 13.3% to $41.5 [...]

MATTHEWS, NC -- Fueled by rapid expansion and a double-digit increase in sales, first-quarter profits at Family Dollar Stores climbed by 13.3 percent, to $41.5 million from $36.6 million last [...]

Current % Chge. Year Year Ago BRIDGFORD FOODS CORP. (Anaheim, CA) Quarter to Nov. 3[*] Sales 42,900 17.0% Net Income 2,230 -17.0% Year[*] Sales 156,300 13.0% Net Income 8,770 -13.0% [...]

NEW YORK -- New stores gave Family Dollar Stores Inc. a shot in the arm in its first quarter, accounting for about two-thirds of a 14.9 percent increase in revenues [...]

NEW YORK -- At the Robertson Stephens Consumer Conference held here last week, Family Dollar demonstrated to analysts how it keeps increasing its dollars with strong sales and store growth. [...]

MATTHEWS, N.C. -- Family Dollar recently wrapped up fiscal 2000 with the kind of financial flourish that has brought it to the attention of retail analysts (see page 4). The [...]

MATTHEWS, S.C. -- Continuing its winning ways, Family Dollar Stores Inc. closed the books on fiscal 2000 and the fourth quarter in impressive fashion. The extreme-value discount store chain posted [...]

NEW YORK -- Family Dollar Stores Inc., which reduced its stocks of hanging apparel 15 to 20 percent in the fourth quarter, posted a 12.2 percent earnings increase in the [...]

MATTHEWS, NC -- Rolling out new stores at an accelerated pace and pushing sales higher at a double-digit clip, Family Dollar Stores drove fourth quarter profits up by 12.5 percent, [...]

NEW YORK -- Price markdowns on larger-than-expected inventories of spring and summer apparel helped temper many retailers' August sales. The challenge of clearing out excess summer clothing to create shelf [...]