xcel
05-27-2006, 02:36 PM
World's largest retailer estimates May same-store sales rose 2.3 percent because of high gasoline prices. (http://money.cnn.com/2006/05/27/news/companies/walmart_sales.reut/index.htm)
Reuters - May 27, 2006
http://www.cleanmpg.com/photos/data/501/Walmart_Super_Center.jpg
CHICAGO - Wal-Mart Stores Inc. on Saturday estimated that May sales rose 2.3 percent at its U.S. stores open at least a year, the low end of its forecast, held back by steep gasoline and utility prices.
The world's biggest retailer had forecast growth in the range of 2 percent to 4 percent.
"We continue to see higher gasoline and utility prices affecting our customers," Wal-Mart (Research) said on a recorded message, echoing cautious comments made earlier this month by Chief Executive Officer Lee Scott.
Wall Street is watching closely for signs of a spending slowdown as oil prices soar. A recent survey by the National Retail Federation trade group found that three out of four U.S. consumers planned to cut back spending because of high gasoline prices.
Wal-Mart and most other major retailers will report final May sales results on Thursday.
Reuters - May 27, 2006
http://www.cleanmpg.com/photos/data/501/Walmart_Super_Center.jpg
CHICAGO - Wal-Mart Stores Inc. on Saturday estimated that May sales rose 2.3 percent at its U.S. stores open at least a year, the low end of its forecast, held back by steep gasoline and utility prices.
The world's biggest retailer had forecast growth in the range of 2 percent to 4 percent.
"We continue to see higher gasoline and utility prices affecting our customers," Wal-Mart (Research) said on a recorded message, echoing cautious comments made earlier this month by Chief Executive Officer Lee Scott.
Wall Street is watching closely for signs of a spending slowdown as oil prices soar. A recent survey by the National Retail Federation trade group found that three out of four U.S. consumers planned to cut back spending because of high gasoline prices.
Wal-Mart and most other major retailers will report final May sales results on Thursday.