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Big 5 Q1 sales lower than expected
EL SEGUNDO, Calif. -- Big 5 Sporting Goods reported that for the fiscal 2011 first quarter, net sales were $221.1 million, compared with net sales of $218.5 million for the first quarter of fiscal 2010. Same-store sales decreased 0.9% for the first quarter of 2011 versus the comparable period in the prior year. This compares to a same-store sales increase of 2.4% in the first quarter of 2010.
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Maine House votes to repeal law banning big-box stores from downtown areas
New York City -- The Maine House on Wednesday voted to effectively repeal the Informed Growth Act, a law that was enacted four years ago to protect Maine's downtown business districts from big-box stores, The Portland Press Herald reported.
The vote, while a preliminary one, followed an impassioned debate about the character of Maine's traditional downtowns and whether Wal-Mart and other large national chains have hurt local businesses or have helped them by attracting more people to communities, the report said.