Friday, August 22, 2014
Inquirer Daily News

Wal-Mart, Urban Outfitters shop their Q2 results

Wal-Mart sales were flat, while the Philadelphia-based Urban Outfitters saw a 10 percent rise in quarterly revenues.

Wal-Mart, Urban Outfitters shop their Q2 results

There have been only three trading days in August when the Dow Jones industrial average hasn't climbed or tripped by a triple-digit amount.

Judging by the anxiety over in Europe, we might have another such move again Tuesday with futures pushing the Dow by more than 100 points before the stock market opens at 9:30 a.m.

At least we still have the clothes on our back, but I'm sure a lot of retailers would like us to change what we're wearing. Wal-Mart's same-store sales in the U.S. were flat for Q2. So the big discounter isn't getting a sales boost from the tight economy.

Further up the chic scale, Urban Outfitters did see revenues rise 10 percent. But we might expect to see Urban Outfitters shares trade lower Tuesday morning following its release of Q2 financial results after the stock market closed Monday. Net income declined 21 percent. Here's a link to AP's version. URBN closed at $29.69 Monday, up a penny from Friday.

Finally, Cherry Hill-based Access to Money, which operates more than 10,000 ATMs in retailers and credit unions, has agreed to be gobbled up by the biggest player in that business, Cardtronics. The price? Just $21.2 million, or 28.5 cents per share, and Cardtronics will retire all of Access to Money's debt.

Mike Armstrong Inquirer Columnist
About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at marmstrong@phillynews.com.

Mike Armstrong Inquirer Columnist
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