NEWS RELEASE
China Direct Seeking to Expand Generator Subsidiaries and Wal-Mart Sees June Same-Store Sales Up
City of Industry, CA --(www.FinancialNewsUSA.com)-- 07/05/2006 - Specialty Retail industry news provided by Financial News USA (OTC: FNWU). China Direct Trading Corporation (OTC BB:CHDT) announced recently the expansion of its power generator sales operations into Miami and Naples/West Florida with two new sales operations. The expansion is prompted by the strong sales performance of CHDT Complete Power Solutions (CPS) power generator sales operations in the northern Miami region. The new operations will be open in the upcoming weeks. Banc of America Securities initiated coverage of Costco (Nasdaq:COST), the largest warehouse operator in the U.S., with a “buy” rating in a Monday report. The research firm set a 12-month price target Costco at $63 and estimated 2006 earnings at $2.32 per share. “Costco is a best in class retailer that continues to outperform on all metrics,” wrote David Strasser, a Banc of America analyst and the author of the report.
Wal-Mart Stores Inc. (NYSE:WMT) estimated on Saturday that June sales rose 1.2 percent at its U.S. stores open at least a year, the low end of its forecast. The world's biggest retailer gave no additional details about its sales performance for June, but said previously that steep gasoline prices had prompted some customers to cut back on shopping trips. Wal-Mart had expected same-store sales growth of 1 percent to 3 percent. Wal-Mart and most other major retailers will release final sales results on Thursday. Xerox Corp. has completed a multimillion-dollar deal with Staples Inc. (Nasdaq:SPLS), placing more than 1,200 Xerox Phaser network color printers in Staples stores across the United States. Staples associates are using the Xerox Phaser 8400 solid ink printer produced at Xerox's Wilsonville facility to create store signs, shelf tags and other point-of-sale materials. Seeking to replace black-and-white printers, Staples tapped Stamford, Conn.-based Xerox for technology that would capture customer attention, save store associates' time and cut store costs.
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