Wal-Mart Holiday Sales May Miss Forecast, Analyst Says
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Wal-Mart Stores Inc. may fail to turn its sales around by the holiday season as planned since the discount retailer has yet to lure customers back from rival outlets, according to Cleveland Research Co.
Store traffic has declined and is unlikely to recover in the next two months, Cleveland analyst Jeff Stinson said in a report yesterday. The Bentonville, Arkansas-based company also has had to cancel some promotions to “protect” profit margins, he said.