Disappointing Sales At Wal-Mart |
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| By: Ari Thursday January 8, 2009 10:16 am | |
WSJ:
Wal-Mart reported its U.S. same-store-sales, excluding gasoline, grew 1.7% amid a 1.9% increase at its namesake chain and 0.1% rise at Sam’s Club.
Vice Chairman Eduardo Castro-Wright said the company, which last month projected growth at the higher end of the quarter’s predicted 1% to 3% advance, said Thursday the holidays were more challenging than expected for retailers because of the economy and "severe winter weather" in some parts of the country."
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Wallmart thought they as the low cost quality shop of last choice would benefit from the Bush Recession. Which is a reasonable assumption. However consumers seem to have stopped spending completely instead.
Have you tried there salsa? It does not matter how cheap the stuff is after a certain point people would rather do without than buy wallmart.