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Closing glance: Broadline retailers decline



By AP
16 May 2008 @ 04:34 pm EST

NEW YORK - Shares of broadline retailers closed down on Friday, following the market down as oil prices spiked to a new trading record, causing investor concern.

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Quotes
WMT 58.09 -0.97
SHLD 80.02 4.45
COST 63.43 -8.57
BJ 36.89 -3.86

SYMBOL LOOKUP

Also pressuring the sector was the Reuters/University of Michigan consumer sentiment reading for May, which fell to 59.5, the weakest reading since June 1980. Consumers have been squeezed by rising gas and food prices, which has cut into discretionary spending.

Here's how broadline retailers fared on Friday:

Wal-Mart Stores Inc., down 8 cents to $57.04.

Sears Holdings Co., down $1.94, or 2 percent, to $94.91.

Costco Wholesales Corp., down $1.18 to $73.27.

BJ Wholesale Club Inc., down 76 cents to $39.26.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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