Wal-Mart's November sales decline worst in a decade


With Wal-Mart Stores Inc. (NYSE:WMT) turning in disappointing November sales figures yesterday -- a 0.5% decline in same-store sales -- there are many questions of the hour when it comes to the world's largest retailer.

What's important about this is the fact that Wal-Mart's November same-stores sales results demonstrated its first monthly sales decline in a decade -- and this is the holiday season no less.

Does the rest of the holiday season look glum for Wal-Mart? Possibly. Wal-Mart said that it expects December sales to rise 0% to 1%, which falling short of Wall Street's expectations for a 2% increase. Ouch -- expectations and projections being off by an entire percent? With Wal-Mart's volume, that is no small matter at all.

After WMT stock hit $50 per share just over a month ago, shares now sit at $45.65 (Friday midday) following the bad news of the 2% decline in November's sales.

As expected, though, Wal-Mart reported that it racked up double-digit comparable-store sales growth in its pharmacies, thanks to its new $4 generic prescription drugs program. I still think CVS Corp. (NYSE:CVS) and Walgreen Co. (NYSE:WAG) will feel the heat next year as Wal-Mart steals quite a bit of prescription drug business.

Wal-Mart also said it saw food sales increase by 5% in November based on more organic offerings and lower prices. I am not sure I believe the organic part ... yet.

Reader Comments (Page 1 of 1)

Symbol Lookup
IndexesChangePrice
DJIA+5.7512,883.95
NASDAQ+11.782,915.86
S&P 500+2.911,349.96

Last updated: February 09, 2012: 06:50 AM

Hot Stocks

General Electric

19.24+0.06(+0.31)

Alcoa

10.670.00(0.00)

Apple Inc

476.68+7.85(+1.67)

Google Inc 'A'

609.85+3.08(+0.51)

Bank of America

8.13+0.28(+3.57)

Wal-Mart Stores

61.62-0.07(-0.11)

Exxon Mobil Corp

85.32-0.55(-0.64)

Ford

12.84-0.04(-0.31)

Citigroup

34.23+1.16(+3.51)

IBM

192.95+0.35(+0.18)

Yahoo

15.78-0.05(-0.32)

Starbucks

48.72+0.31(+0.64)

Microsoft

30.66+0.31(+1.02)

Home Depot

45.17-0.29(-0.64)

DailyFinance Headlines

Benzinga Headlines

TheFlyOnTheWall.com Headlines

BioHealth Investor Headlines

WalletPop Headlines

DailyFinance BlackBerry App

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance

BioHealth Investor Headlines

Page Loaded in 1328788220864 ms.