Wal-Mart Posts Record Sales Decline

Drop in business at megachain worst in 28 years
By Greg Atwan,  Newser Staff
Posted May 10, 2007 9:10 PM CDT
Wal-Mart Posts Record Sales Decline
'   (Associated Press)

(Newser) – Wal-Mart reported a 3.5% decline in sales this April, the wost monthly result the retailer has announced in nearly three decades of announcing. The figures, for stores open at least a year, reflect an early Easter, bad weather, and a rejiggered sales calendar that gave Wal-Mart positive numbers in March.

The Arkansas-based behemoth is also experiencing some tremors from last year's effort to appeal to more upmarket clients, and this year's decision to retreat to its traditional base. The stagnant economy also has something to do with it; one analyst even tells the Journal that "housing market sluggishness" is partially to blame for the dip in spending. (Read more Walmart stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X