Report: Wal-Mart cutting orders on inventory backlog

|About: Wal-Mart Stores, Inc. (WMT)|By:, SA News Editor

Wal-Mart (WMT -2%) is cutting orders due to an inventory backlog, according to report quoting an ordering manager at the retailer's Arkansas headquarters.

Shares of Wal-Mart and a number of other retailers are having a bit of a panic attack as details are being sorted out.

Decliners: PSMT -1.7%, COST -1.1%, TGT -1.2%.