Thursday, June 05, 2008

Wal-Mart Sales Up 4.4%

Wal-Mart saw its monthly retail sales jump in May as more consumers turned to the discount retailer to weather the struggling economy.

The discount retail giant said same-store sales including fuel rose by 4.4% in May, much higher than the 1.6% increase expected by analysts interviewed by Thomson Reuters.

Excluding fuel sales, same store performance rose by 3.9%.

“Our comparable-store sales continue to increase because of our price leadership, merchandising initiatives and operational improvements," Eduardo Castro-Wright, Wal-Mart U.S. president and chief executive officer, said in a statement. "We also believe we're seeing some benefits from the stimulus checks."

Wal-Mart, along with the other warehouse and discount retailers, has seen their sales increase in recent months as the economy has continued to decline."

Only our liberal media would report that a sales increase was due to a declining economy. Instead of seeing a light at the end of what was nothing much but a quite diminutive tunnel to begin with, the Yellowstreamers continue to find doom surrounded by gloom in even a happy tale.

Good thing not everyone is as dumb as the "Greatest Generation", eh?

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