Home / Markets / Industries / Retail
Thursday, October 02, 2008
Retail Stocks Open Lower; Rite Aid Bounces On Sept. Sales
William Spain
MarketWatch Pulse
CHICAGO - Retail stocks slid along with the broader market in early action Thursday as the sector's main indicator fell about 1%. The S&P Retail Index dropped almost 3 points to 353.83 out of the open. But Rite Aid was running against the tide, gaining more than 5% to $1 after reporting that September same-store sales -- those at stores open at least a year -- rose 1.7%. The drugstore chain's front-end same-store sales increased 3.4% while pharmacy was up 1%. Total sales for the four weeks ended Sept. 27 slipped 0.8% to $1.97 billion.
Copyright © 2008 MarketWatch, Inc.
Fox Business Video
-
-
Helping Veterans Land Jobs
-
Jul 2, 2009
Baird on Helping Soldiers
-
-
-
President's Plans Working
-
Jul 2, 2009
Goodstein on Stimulus Success
-
-
-
Jackson Lives On
-
Jul 2, 2009
Beck on Future of Jackson
-
-
-
$20 Dollars a Gallon
-
Jul 2, 2009
Paying More to Save Economy
-
-
-
Looking for the Road to Recovery
-
Jul 2, 2009
Morris on Unemployment
-
FOX Translator
No data currently available.
No data currently available.
If you've seen TV footage of an active trading pit, you've probably noticed the atmosphere is uproarious and wild. The reason for all the shouting? Open outcry.
On exchange floors that use the open-outcry system, traders shout prices they want to sell while others yell back the price they want to buy at. They also use hand gestures to communicate with each other.
This system has been used for a long time, but is being replaced with modern technology. Some argue electronic exchanges can do the job faster and more accurately. One of the few exchanges that continue to use open outcry is the New York Mercantile Exchange.
