Politics

Fears over recovery as Wal-Mart sales stall

Worries about the sustainability of the US economic recovery were stoked on Sunday after Wal-Mart, the discount retailer that is a bellwether for the country's retail sector, announced that sales grew by only 0.7 per cent in the year to November. The world's largest retailer had estimated growth of 2 to 4 per cent just 10 days ago. But Wal-Mart revised its estimates down on Saturday evening after disappointing sales on “Black Friday”, the day after Thanksgiving so called because it is traditionally the time retailers move into profit for the year. Posted by Editor at November 30, 2004 06:41 AM