Wal-Mart Says August Sales May Be Little Changed
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Wal-Mart Stores Inc., the world&#39;s largest retailer, said August sales will be little changed or rise as much as 2 percent, hurt by Hurricane Charley and sluggish demand for back-to-school products.
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Retail sales rose by 0.3 percent in August compared with the previous month despite the biggest drop in food sales for more than three years, official data has shown.
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WASHINGTON -- Retail sales posted a modest gain in August, helped by the biggest jump in auto sales in more than a year. But there are concerns that spending could falter as the steep slump in housing and financial market turbulence weigh on consumer confidence.
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By Emily Kaiser CHICAGO  - Wal-Mart Stores Inc.  lowered its August sales forecast on Monday because of disappointing back-to-school demand, casting doubt on the strength of U.S. consumer spending in a key shopping season.
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BENTONVILLE, Ark. Aug. 23, 2004 - Wal-Mart Stores Inc., the world&#39;s biggest retailer, lowered its sales forecast for August, citing Hurricane Charley&#39;s swipe across Florida and slower than expected back-to-school sales.
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Charley throws some water on Wal-Mart's August sales forecast.
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Consumer prices barely budged in August, suggesting that inflation is not currently a problem for the economy and that Federal Reserve policy makers can stick
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Amid reports yesterday of sluggish back-to-school sales from the nation&#39;s largest retailer, Wal-Mart Stores Inc., analysts maintained forecasts for a decent retail season.
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U.S. retailers are expected to post modest November sales this week, with No. 1 retailer Wal-Mart Stores Inc. already cutting its holiday outlook on high oil prices and warmer weather.
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CHICAGO (CBS.MW) - Retail stocks fell Monday after Wal-Mart cut its August sales forecast, casting a pall over expectations for consumer spending during the back-to-school season.
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Retail sales have risen by 0.3 percent in August compared with the previous month despite the biggest drop in food sales for more than three years.
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Amid reports yesterday of sluggish back-to-school sales from the nation's largest retailer, Wal-Mart Stores Inc. , analysts maintained forecasts for a decent retail season.
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The 0.3 percent increase in retail sales was about half what had been expected. In another sign of weakness, industrial production in August edged up by just 0.2 percent.
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U.S. retailers are expected to post  modest November sales this week, with No. 1 retailer Wal-Mart  Stores Inc. WMT.N already cutting its holiday outlook on high  oil prices and warmer weather.
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Wal-Mart is reducing its forecast for same store sales for the month of August. It is blaming store closures caused by Hurricane Charley last week.
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U.S. consumer prices rose a slight  0.1 percent in August while activity at mid-Atlantic factories  slumped this month, according to reports on Thursday seen  boosting chances of a pause later this year in the Federal  Reserve's drive to raise interest rates.
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Wal-Mart Stores Inc  on Thursday reported a higher-than-expected 3.1 percent rise in August sales at its U.S. stores open at least a year as the retailer cut prices to entice more back-to-school shoppers.