“Sales were especially poor in discretionary items in general, at Sam’s Club, and in the International division, illustrating that even Wal-Mart is not immune to the economic slowdown. The incremental benefit it realized from consumer trade down in 2008 might not repeat itself in 2009,” Credit Suisse stated.
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“Price increases, not unit growth, within the grocery and health and wellness categories drove the majority of Wal-Mart’s sales growth in 2008,” Credit Suisse stated in its research note.
Wal-Mart is going to have its worst year in a long, long time. Sure, much of the rest of the market will also suffer but Wal-Mart has alot further to fall. And I'll be here, with my popcorn, watching.