• Oil and Gas Inventories
• Crude oil inventories soared by 5.6 million barrels for the week ending May 4, according to the Energy Information Administration, well ahead of the 400,000 barrel build expected. Gasoline stocks rose by 0.4 million barrels, in line with expectations. Refinery activity improved modestly to 89%. Soaring imports helped crude and gasoline stocks rise. Distillate inventories rose 1.7 million barrels. This release will likely help extend the bearish pressure seen in oil prices in the past two days, although gasoline prices will remain under bullish pressure.

• MBA Mortgage Applications Survey
• Mortgage demand increased 3.6% in the week ending May 4. Purchase applications increased 2.6% and refinance applications increased 4.9%. The numbers reflect both a concerted effort from many homeowners to refinance out of adjustable rate mortgages and that this is a time in the spring housing market where potential buyers are finding the homes they would like to bid on.

• Chain Store Sales Snapshot
• Chain store sales fell 0.6% in the week ending May 5. Year-over-year growth slipped to 1.7%, the weakest in nine weeks. High gasoline prices were mentioned as drags on sales.

• ABC News/Washington Post Consumer Comfort Index
• After being on a downward trend since early March, consumer confidence is showing signs of stabilizing. The ABC News/Washington Post consumer comfort index rose two points to -3 in the week ending May 6. The details were decent with a four-point improvement in the personal finances component leading the overall charge higher.

• Employment Situation
• April nonfarm payrolls rose by 88,000, in line with our forecast. Job growth was held back by the two inventory corrections the U.S. economy is working through now, namely the housing inventory overhang and the manufacturing inventory overhang, as well as rising energy prices lately and the intensifying negative housing wealth effects. Construction, retail and manufacturing payrolls all fell significantly and payrolls for prior months were revised down, the first downward revision in years.

• Weekly Natural Gas Storage Report
• Underground storage of natural gas increased by 96 billion cubic feet during the week ending May 4. This was just slightly above expectations for an injection of about 90 Bcf. Inventories are now 20.5% above the five-year average. This report is likely to have a slightly bearish impact on prices.

• Productivity and Costs
• Nonfarm business productivity growth in the first quarter of 2007 came in at 1.7% annualized growth, far above consensus, but below the 2.1% rate in the fourth quarter. Unit labor cost growth was a weak 0.6%, down from 6.2% from the fourth quarter. Given the weak GDP numbers, the productivity number was a pleasant surprise, and the unit labor costs number was good news on the inflation front.

• GDP
• Real GDP growth slowed to a 1.3% annualized pace in the first quarter of 2007, down from 2.5% in the fourth quarter of last year. This is well below the 1.9% consensus expectation for the first quarter. Real GDP has increased 2.1% over the past year, far less than the economy's potential of about 3%. The weakening in growth was due to a worsening in trade and reduced federal government spending. Housing remains a severe weight on growth.

Source: Economy.com

• Food Lion
• Delhaize America, Inc. trades as Food Lion at 1,200 locations in DE, FL, GA, KY, MD, NC, PA, SC, TN, VA and WV.
• The supermarkets occupy spaces of 28,000 sq.ft. to 38,000 sq.ft. in freestanding locations in addition to strips and power centers.
• Plans call for 50 openings in the existing markets during the coming 18 months.
• Preferred cotenants include home improvement stores.
• A vanilla shell is required.
• A land area of 3.5 to 4.5 acres is required for freestanding locations.

• Rack Room Shoes
• Rack Room Shoes operates in excess of 400 stores in 22 states throughout the Midwest, Mid-Atlantic, South and West regions of the U.S.
• The stores occupy spaces of 5,500 sq.ft. to 7,000 sq.ft. in lifestyle, outlet, power and strip centers.
• Preferred cotenants include Target, T.J. Maxx, Marshalls, Old Navy and regional department stores.
• Typical leases run five years with options.
• A vanilla shell plus a tenant improvement allowance are required.
• Preferred demographics include a population of 100,000 in a seven-mile radius earning an average household income of $55,000.
• Competition includes Famous Footwear, Shoe Carnival and DSW.
• For more information, contact Kent Gonnerman, Rack Room Shoes, 8310 Technology Drive, Charlotte, NC 28262; Email: kgonnerman@rackroom.com; 704-547-9200, Fax 704-547-8158; Web site www.rackroomshoes.com.

• Gander Mountain
• Gander Mountain operates in 106 locations throughout AR, CO, IA, IL, IN, KS, KY, MD, MI, MN, NC, ND, NY, OH, PA, TX, VA and WI.
• The sporting goods stores occupy spaces of 30,000 sq.ft. to 35,000 sq.ft. in freestanding locations.
• Plans call for 12 openings in the eastern, southern, and midstate regions of the U.S.
• The company will occupy existing space providing that outdoor selling space is available.
• For more information, contact Tom Brisinski, Gander Mountain, 180 East Fifth Street, Suite 1300, St. Paul, MN 55101, Fax 651-325-2001; Web site:www.gandermountain.com.

• The Limited Too
• Tween Brands trades as The Limited Too and Justice at 727 locations nationwide.
• The stores, specializing in apparel, swimwear, sleepwear, sportswear and footwear for young girls, occupy spaces of 4,100 sq.ft. in malls and outlet centers.
• Growth opportunities are sought nationwide during the coming 18 months.
• For more information, contact Alan Hochman, Tween Brands, 8323 Walton Parkway, New Albany, OH 43054; 614-775-3500, Fax 614-775-3942; Web site: www.tweenbrands.com.