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Wal-Mart same-store sales top expectations at 5.8 percent Sunday, Jul 13, 2008 By Roby Brock Wal-Mart Stores Inc. reported a 5.8 percent rise in same-store sales at its U.S. locations for the month of June, excluding fuel. The surprisingly strong numbers led the Bentonville-based retail giant to raise its second-quarter earnings forecast. The company had predicted U.S. same-store sales would rise 2 percent to 4 percent. Total company sales climbed to $39.9 billion during June, up 11.5 percent from one year ago. Wal-Mart Stores accounted for $25.2 billion in monthly sales. Sam's Club sales totaled $4.8 billion. International sales topped $9.8 billion. Dillard's sales drop Dillard's reported another month of declining store sales, in part due to as many as 10 store closings announced this year. Dillard's sales for the five weeks ended July 5 were $593.3 million, compared to $620.7 million one year ago. The 4 percent decline in total store sales was slightly better than comparable store sales, which decreased 5 percent for the five-week period. Acxiom acquires database division Acxiom Corp. has made a small acquisition of the Database Marketing Solutions division of ChoicePoint Precision Marketing LLC, a subsidiary of ChoicePoint Inc. Terms of the deal were not disclosed. With the purchase, Acxiom adds seven clients from multiple industries, including banking, insurance and media. The acquisition includes about 75 associates based in Andover, Mass., Durham, N.C., Peoria, Ill., and Alpharetta, Ga. Home Bancshares discloses $2.1million fraud Home Bancshares, the Conway-based bank holding company, disclosed that a senior officer has been dismissed in connection with an apparent fraud of $2.1 million. An internal investigation uncovered the alleged theft, which the company said was covered by an insurance policy and did not result in any lost funds to customers. Federal investigators are reviewing the case, according to bank officials who offered no further comment. May home sales plummet The May housing report from the Arkansas Realtors Association shows slumping real estate sales in the state's major markets, with heavy double-digit declines in a year-over-year comparison. So far this year, real estate sales have fallen by more than $400 million from a year ago. Statewide, units sold were down 22.8 percent, while actual sales values declined by 24.3 percent in May. Statewide, average home prices dropped nearly 2 percent. Garland County had the highest average price for a home in the state at $194,990. Allied Tube to close Pine Bluff plant Allied Tube & Conduit will close its Pine Bluff operations by Sept. 19, laying off 226 employees, the company announced Thursday at an employee meeting at the Pine Bluff Convention Center. Company officials blamed excess capacity for the shutdown. Production will be moved to facilities in Arizona and Pennsylvania. Allied Tube has been making galvanized steel tubing for more than 40 years. The Pine Bluff facility, formerly Century Tube Corp., was formed in 1979 and occupies six buildings in the Harbor Industrial District at the Port of Pine Bluff. Arkansas lottery could snatch $25 million from Missouri Missouri could lose more than $25 million in lottery ticket sales in the first fiscal year after Arkansas implemented a state lottery, according to the latest estimate presented to the Missouri Lottery Commission. The estimate would only reach that high if Arkansas offered "Powerball," in which several states participate in a promotion offering a very large jackpot, and if gasoline prices continue to hold down interstate travel, according to a Missouri Lottery spokeswoman. Total lottery ticket sales in Missouri in the last year were $995 million. This November, Arkansans will likely vote on a lottery proposal that earmarks net proceeds for college scholarships. Lt. Gov. Bill Halter has organized a ballot measure that is awaiting signature approval by the secretary of state's office to qualify for the November ballot. Class action case filed against ANB directors Ralph Clift, a Benton County resident, is the plaintiff in a potential class-action lawsuit against seven former directors and officers of ANB Financial, the Northwest Arkansas bank entity closed by federal regulators in May. The lawsuit, filed in Benton County Circuit Court, alleges ANB's leaders failed to properly manage the bank's deposits, monies and assets, and that the defendants "did not exercise prudence in their banking practices." The complaint seeks a jury trial. Beebe puts money toward trauma system Gov. Mike Beebe released $200,000 from the Governor's Emergency Fund to assist development of the Arkansas Trauma System. Lawmakers who supported creating a trauma network, which would better coordinate the state's hospitals and emergency medical services, failed to find a funding source in the 2007 legislative session. The $200,000 will be used for preliminary work on the project such as creating a database of personnel and specialists, as well as for consulting advice to establish the network. St. Vincent, UALR to expand nursing program Officials at St. Vincent Health System and the University of Arkansas at Little Rock announced a five-year partnership aimed at easing the nursing shortage that has affected the state and nation for years. Experts say the U.S. faces a shortage of nearly 1 million nurses by 2020, largely because of the aging population. St. Vincent said it will provide $560,000 in scholarships and academic program support over the next five years to help UALR expand and enhance its nursing program. The partnership will allow UALR to add another 90 nursing students to its program annually, almost doubling current student levels. AERT quarterly sales taper off Advanced Environmental Recycling Technologies (AERT) posted sales of $24.8 million for the quarter, down 3.5 percent from one year ago when sales topped $25.7 million. Unaudited revenue for the six-month period ended June 30 was up 12 percent to $54.2 million, according to company officials. "With our increased focus on renovation and remodeling, we are substantially avoiding the current housing construction softness that has beset some of our competitors," AERT CEO Joe Brooks said. Camden plant to expand capabilities National Technical Systems Inc. has acquired about 650 acres of land adjacent to land it currently leases in Camden. The purchase price was not disclosed. The land buy will allow NTS to expand its testing capabilities and meet anticipated future demand for business. The California-based company is a provider of engineering and evaluation services to the defense, aerospace, telecommunications and automotive industries. ------- Roby Brock, a freelance journalist based in Little Rock, writes weekly for the Arkansas News Bureau. His weekly television program airs at 10 p.m. Sundays in Central and Northwest Arkansas. His e-mail address is roby@talkbusiness.net; his Web site address is www.talkbusiness.net. |
