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The stories about the death of Wal-Mart (WMT) have been disappearing over the last few months as the world’s largest retailer posted remarkable sales.
Now, there is nothing left to argue. During May, same-store sales rose 3.9% over the year-ago period. For a business the size of Wal-Mart that figure is remarkable. Worldwide revenue was up almost 10% in May, with international rising well over 16%.
The theory has emerged recently that, as a recession takes hold, shoppers will move from other chains to Wal-Mart to get lower prices.
If that is right, it is going to be one hell of a recession.
Douglas A. McIntyre
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