Retail Day !

Thursday, July 12, 2007 | 10:17 AM

Today is Retail Day. Let's stick with that theme.

Wal-Mart (WMT) surprised to the upside, event though they were widely projected to be a laggard. As a company, they posted a 2.4% increase in US June same-store-sales (excluding fuel). The Wal-Mart stores saw a 1.6% gain, while membership wholesaler Sam's Club posted a big 6.9% jump (excluding fuel). The rest of the Retail complex was mixed.

Markets are rallying on the news.

Following our discussion yesterday on core-inflation (ex-food and energy), and given that Wal-Mart is the  biggest supermarket in the country,  I am curious as to this small detail:

How much of Wal-Mart's gains are due to food inflation?

The firm refuses to report ex-food, although they do report ex-energy. Inquiring minds want to know!

~~~

Here's the WSJ public page on retailers:

June_retailers

Thursday, July 12, 2007 | 10:17 AM | Permalink | Comments (22) | TrackBack (0)
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Great point...CNBC alluded to the fact that WMT's big gains were at Sam's Club, and Costco had gains as well due to food inflation. But all is well...Haines is trumpeting a "Banner Day" and Yardeni came on declaring this the "Greatest Global Boom of All-Time". Of course, that would be followed by the biggest global bust, unless the world engineers a soft landing.

Posted by: Steve | Jul 12, 2007 10:31:08 AM

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