Discount retailers shares rise in early trading

By Associated Press
September 18, 2008 | Comments (0)

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Shares of discount retailers rose, along with the broader market, in early trading on Thursday, as a plan by central banks to inject markets with $180 billion seemed to ease investor concern about the tumult in the financial sector.

The Dow Jones industrial rose more than 150 points in early trading.

Discount retailers traditionally perform better than others amid economic downturns as consumers shop for basics such as groceries and hold off for bargains.

Discounters shares rose across the board on Thursday.

Wal-Mart Stores Inc. shares rose 68 cents to $60.32.

Costco Wholesale Corp. shares rose 73 cents to $66.10.

Big Lots Inc. shares rose $1.47 to $30.69.

One exception was Target Corp., shares fell 34 cents to $53.25.

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