Politics from the Palouse to Puget Sound

Thursday, January 10, 2008

"Food helps Wal-Mart in Dec, while Target struggles"

Reuters is reporting today:
U.S. shoppers seeking cheap groceries boosted December sales at discount retailer Wal-Mart Stores Inc, but a pullback in discretionary purchases by middle-income shoppers hurt holiday sales at rival Target Corp.

The sales data released on Thursday by the top U.S. discount retailers showed consumers are loading up on necessities and discounted goods, but splurging only selectively in the face of high gas prices, food inflation and a shaky housing market.
I wonder if local business "experts" Chris Lupke and TV Reed, who have predicted the "end of Wal-Mart," will have some comment on this? I don't think so either.

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