Retailers Lead Stocks Up, Burger King Sizzles

U. S. stocks closed higher for the fourth day in a row on Thursday as some retailers reported improved
sales. The Dow average gained 62.90 points, or 0.42%, to 14,865.14. The S&P 500 gained 5.64 points, or
0.36%, to 1,593.37.The Nasdaq Composite gained 2.91 points, or 0.09%, to 3,300.16.

Retailers were among those rallying, with shares of Limited Brands Inc. LTD +4.32% up 4% after the
owner of the Victoria’s Secret chain reported same-store sales climbed 3% last month. Ross Stores Inc.
ROST +5.92% jumped 5.9% after the discount chain said improved sales in March would probably lift
profits above its prior estimate.

Burger King (BKW) sizzled today, rising 4% on the announcement that CEO Bernardo Hees is ending his
reign. The fast food chain says Hees will take the top spot at H. J. Heinz after Berkshire Hathaway and
3G Capital take the ketchup-maker private. Chief Financial Officer Daniel Schwartz has been named to
replace Hees on July 1st. Separately, Burger King says quarterly earnings will be 17-cents a share,
slightly above estimates. The company did warn however that it expects same-store sales to decline 1.5%.
It cited a tough global environment and leap day last year.

Oil futures finished with a loss of more than 1% on Thursday. May crude oil lost $1.13, or 1.2%, to
settle at $93.51 a barrel on the New York Mercantile Exchange.






Leave a Reply