Wal-Mart Falls After U.S. Sales Miss Retailer’s Forecast
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Wal-Mart Stores Inc., the largest retailer, fell the most in nine months in New York trading after posting a seventh straight sales decline at its U.S. stores, short of its own projections for the holiday period.
The shares sank 3.1 percent after Wal-Mart said today that sales at U.S. stores open at least a year fell 1.8 percent in the quarter ended Jan. 28. Chief Executive Officer Mike Duke said in October that U.S. comparable sales would be “positive.”