Wal-Mart sees sale-store sales decline for March

March 2009 sales at Wal-Mart dipped almost 2% to $36.21 billion from $36.91 billion in the previous year. While same-store sales increased (just barely) 0.7% from the year-ago 1.1%, Wal-Mart is still doing better than just about any mass retailer dealing with a loss of laid-off customers and the tightening of wallets and purses from the still-working population. Wal-Mart CFO Tom Schoewe said "Wal-Mart is maintaining strong price leadership and expense management." Yeah, we know that, Tom -- nothing to see here.

Wal-Mart's Eduardo Castro-Wright indicated that Easter sales would bolster April performance, and he's right. Traditions and holidays and the commerce that goes with them won't stop, if not slow a little. Wal-Mart's still chugging along in this horrible economy and remains well at the top in terms of performance, even with expected missteps like in March. Wal-Mart's share price -- sitting today above $51 -- has been sitting north of $50 since mid-March and has been extremely non-volatile in the last six months. Wonder why? I don't.