Apparantly those 'Pardon our dust' signs didn't work.
Wal-Mart Stores Inc. on Saturday estimated that October sales rose just 0.5 percent at its U.S. stores open at least a year, hurt by disappointing apparel demand and disruption from store remodeling efforts.
But, the numbers could use some interpretation, I think.
My thinking goes like this. What if last year's sales were unusually high? A 'normal' year looks weak by comparison. Maybe it's just me, but basing an assessment on one set of figures doesn't seem to be a very good idea.
The world’s biggest retailer had originally forecast 2 percent to 4 percent October same-store sales growth, but warned earlier this week that the figure would likely be closer to 1 percent.
Again, it's my favorite group to criticize - the 'speculators'. So they were wrong again. That's news? These folks are the economic equivalent of the Gang That Couldn't Shoot Straight.
Wal-Mart, the world’s biggest retailer, has been adding more upscale merchandise such as flat-panel televisions and trendy apparel in a bid to get wealthier shoppers to buy more.
Apparantly the jury is still out on this one.
But the fashionable clothing has not sold well this fall. Wal-Mart said at an analyst meeting this week that it went too far in adding trendy lines and did not stock enough of the basic fashion apparel that appeals to its core customers.
Core customers. They're who make you who you are. Be careful about messing with them.
Somehow though, I think Wal-Mart will be ok.
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