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Thursday, February 07, 2008

Wal-Mart Reports Disappointing Sales

by Calculated Risk on 2/07/2008 09:53:00 AM

From the WSJ: Wal-Mart Reports 0.5% Rise In Sales, Below Its Forecast

Wal-Mart posted a 0.5% gain in January U.S. same-store sales excluding fuel, well below the company's 2% growth forecast. Its namesake stores had a 0.2% increase, while Sam's Club had growth of 2.1%.
For the fiscal year, Wal-Mart's U.S. same-store sales rose 1.4%, the lowest figure since the company began releasing such data nearly 30 years ago.
More evidence of a consumer led recession.