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Article: Wal-Mart and its stock roar to new heights in 1997; Dillard's acquires 20 more stores, National Home Centers closes four. (Wal-Mart Stores Inc and Dillard's Inc post profits while National Home Centers Inc wallows)(1997 The Year in Review)
- Article from:
- Arkansas Business
- Article date:
- December 29, 1997
- Author:
CopyrightCOPYRIGHT 1997 Journal Publishing, 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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Dillard's Acquires 20 More Stores, National Home Centers Closes Four
In retailing, this year may be remembered best for the booming return of Wal-Mart Stores Inc.'s stock price.
Wal-Mart stock opened 1997 at $22.75 a share and rocketed to a high of $41.94 a share in December. It closed at $39.47 on Dec. 18, up 73.5 percent for the year.
The reason for the surge is Wal-Mart's dominance of its mass merchandising competitors and the entire retail sector. Month in, month out, quarter after quarter, Wal-Mart continues to report sales increases of 10-15 percent. Even same-store sales increases are 6-8 percent each quarter. No one even a fourth of Wal-Mart's ...