Wal*Mart Sales Suffer Sharp April Decline
The world’s largest retailer, Wal*Mart, on Thursday announced same-store sales numbers for April that represent the company’s worst results in nearly 30 years. Wal*Mart’s 3.5 percent drop, covering the period of April 7-May 4, was the most its monthly sales had fallen year-to-year since it began keeping such records in 1979, Reuters reported.
The company attributed the slow sales to several factors, including unusually cold weather, an earlier-than-usual Easter holiday, and renovations in many stores that may have gotten in the way of shoppers. Electronics, however,
The figures only take into account Wal*Mart stores that have been open for at least one year. Wal*Mart will report first-quarter earnings on May 15.