Article Image

IPFS News Link • Economy - Economics USA

Wal-Mart Slides After Revenue Miss, And Negative Same-Store Sales Growth

This line from CEO Mike Duke is ominous: “Some of the pricing and merchandising issues in Walmart ran deeper than we initially expected, and they require a response that will take time to see results... There is no greater priority for Bill or me than getting sales back into positive territory. " This stage of the cycle for Wal-Mart is ugly: The higher-end buyers who became Wal-Mart customers during the crisis have gone back to higher-end shopping. Conversely, the low-end buyers haven't seen much of a recovery yet. This chart of Wal-Mart vs. the S&P gives a nice long-term look at how badly this company has underperformed the rest of the market.