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August 12, 1992 | GEORGE WHITE, TIMES STAFF WRITER
J.C. Penney Co. and Wal-Mart Stores Inc., giant retailers offering moderately priced merchandise, both said Tuesday that their second-quarter earnings grew substantially. Some other retailers, however, reported sales declines or flat to moderate profits. The strong showing by Penney and Wal-Mart in an otherwise lackluster field suggests that consumers remain skittish about the economy and are trying to stretch their dollars.
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BUSINESS
August 12, 1992 | GEORGE WHITE, TIMES STAFF WRITER
J.C. Penney Co. and Wal-Mart Stores Inc., giant retailers offering moderately priced merchandise, both said Tuesday that their second-quarter earnings grew substantially. Some other retailers, however, reported sales declines or flat to moderate profits. The strong showing by Penney and Wal-Mart in an otherwise lackluster field suggests that consumers remain skittish about the economy and are trying to stretch their dollars.
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