Corporate results don’t usually give much insight into the US economy but WalMart is omnipresent and focused entirely on retail. They also have outstanding real-time access to US spending habits.
International sales were strong but US same-store revenues were up a measly 1.5% y/y. CEO Mike Duke:
“Many families are settling into a new normal. Core customers remain cautious about their finances, and they rely on Walmart’s [low price] promise to help them manage through today’s economic challenges.”
Officials from WalMart said they are confident that US sales growth will improve but they forecast Q1 earnings below estimates.
