MEMO: RETAILERS EARNINGS ARE DOWN

Some of the nation's big retailers, including No. 1 Wal-Mart Stores Inc., confirmed how difficult the third quarter was, issuing a round of disappointing earnings reports.

Wal-Mart said Tuesday its earnings rose 4 percent, well below the company's usual profit levels. Apparel retailers were the hardest hit, including JCPenney Co., Limited Inc., Dayton Hudson Corp. and Woolworth Corp. also posted declines. But Home Depot Inc., thriving as consumers poured money into their homes, said its profits rose 25 percent.