“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.
“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.