Article: Bradlees, Mervyn's optimistic; Mercantile slows, Kohl's grows. (retailers' financial condition)

NEW YORK -- Addressing shareholder concerns about sagging performances, Bradlees and Mervyn's executives out-lined turnaround strategies at annual meetings Wednesday, projecting some optimism for the second half.

But Mercantile Stores gave its shareholders some more troublesome news right after its annual meeting.

The chain lowered its second-quarter sales estimate to reflect a downtrend in May business and projected modest sales growth of 3.3 percent to $640 million for the quarter ending July 29 from $619 million. Samestore sales are expected to increase just 2.6 percent.

In addition, Mercantile is estimating second-quarter earnings of 18-20 cents ...

Related newspaper, magazine, and journal articles:

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!