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Wal-Mart had slightly better than expected same-store sales in December, up 1.6%. It did not matter much. The performance was dismal.
Research firm Retail Metrics said that overall retail sales rose 4.6% if Wal-Mart’s figures are taken out. It is some measure of how badly things are going at the world’s largest retail chain.
It would be tempting to read something into the figures being better than expected, but the margin is small. It would appear that it is not likely that there will be any significant move up in the numbers in the first part of 2007.
The only headline here is that Wal-Mart’s problems are not getting better.
Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own securities in companies that he writes about.
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