Politics from the Palouse to Puget Sound

Thursday, May 08, 2008

Sales Up, Another Reason For Democrats To Hate Wal-Mart

Sometime later this year or early next, I suspect that economists will determine that Wal-Mart kept the country from sliding into a recession. With the country as a whole experiencing a slump, Wal-Mart posted better than expected sales increases, which begs the question: What if they gave a recession and not everybody chose to participate?

Wal-Mart Stores Inc. says sales of groceries and items such as flat-screen TVs boosted its same-store sales in April above Wall Street expectations.

The world's largest retailer said same-store sales rose 3.2 percent, easily beating Wall Street's 2.1 percent growth forecast. Including fuel, same-store sales climbed 3.8 percent.

The sales figure, which counts only stores open at least one year, is considered a key measure of a retailer's fiscal health.

Same-store sales rose 2.6 percent at namesake Wal-Mart stores and 6.6 percent at Sam's Club, excluding fuel.

Total sales for the four weeks ended May 2 rose 10 percent to $29.18 billion.

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