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Article: Many stores gain despite drop in Dow Jones Average. (Dow JOnes Industrial Average)(Brief Article)
- Article from:
- WWD
- Article date:
- January 9, 1998
CopyrightCOPYRIGHT 1998 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- The Dow Jones Industrial Average slumped 99.7 percent Thursday, but many retailers gained ground after posting better-than-expected December sales results.
Among the gainers were May Department Stores, up 3/4 to 68 3/8; Proffitt's, 3/4 to 28 1/4; Sears, 3/4 to 46 3/8; Gap, 1 3/8 to 37; Nordstrom, 1 23/32 to 58 5/8, and Saks Fifth Avenue, 1 5/16 to 21 3/8.
Federated Department Stores, which rose 1 7/8 to 43 5/16, posted a disappointing 1 percent December ...