Mighty Wal-Mart Takes a Hit

Even the biggest and best in retail aren't immune from the frightened consumer.

Wal-Mart's (WMT) December sales rose just 1.7 percent in December, below the 2.8 percent consensus and earlier guidance from the company that sales would be in the high end of its 1-3 percent forecast.

In the fourth quarter, Wal-Mart now says it expects to earn 91-94 cents a share, down from a November forecast of $1.03 to $1.07 a share. Its shares fell nearly 8 percent before the open.

Sears Holdings (SHLD) and Limited Brands (LTD) also posted hefty sales declines. Sales at Gap (GPS), Macy's (M) and Dillard's (DDS) dropped too.

Looks like the hangover from a terrible 2008 will be with us for a bit.

Comments

[who:]

"Looks like the hangover from a terrible 2008 will be with us for a bit."

probably the biggest understatement of 2009!

Jan 08 11:13 PM

[bosun.j:]

Wal-Mart may be the biggest. Wal-Mart is not the best unless you measure "best" by biggest.

Jan 09 03:39 AM