And the Blame Game Continues

The Street was braced for a negative same-store sales out of Wal-Mart (WMT), but not quite 1.4% negative. As I discussed in my Tuesday piece, the blame game marched across the press release -- weather, payroll tax -- but the company threw in another addition: inflation.

Well, specifically, the company cited a lack of inflation. Wal-Mart said it drove ticket prices up only 40 basis points, as opposed to the 110-bps rise last quarter. Looks like the inflation tailwind that helped last year's comps won't be reappearing anytime soon. Moreover, with traffic down 180 bps -- compared with only 10 bps last quarter -- something has got to give. ...196 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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