Wal-Mart reports subdued US sales
Wal-Mart dampened hopes for strong holiday sales as it announced expectations that US December same-store sales growth would be at the low end of a 3-5 per cent growth forecast.
In a weekly sales summary, the world's largest retailer said more consumers were delaying holiday shopping and buying gift cards, which are not recorded as revenue when purchased.
Richard Hastings, analyst at Bernard Sands, said: "Wal-Mart shoppers are a huge aggregation of American society. The sales reflect that there are a lot of households insufficiently funded for the future," said Mr Hastings. "If you're an observer, you need to be very worried about this."...
Is this God's way of telling David Frum that He's a Deanie baby?