Thursday, April 9, 2009

No Room for Walmart in Rebound

WSJ reports:

Major U.S. averages soared Thursday, but shares of Wal-Mart Stores were left in the dust as the nation’s largest retailer reported disappointing same-store sales for March, driven largely by home, health and grocery divisions. The shares, thus far, have dropped 4.2% on a day when major averages gained more than 2%. Since the market bottomed on March 9, however, investors have been looking elsewhere for a source of potential returns. While the Standard & Poor’s 500 has gained 22% since that day’s close, a 12-year low, shares of Wal-Mart are up just 7%, lagging the overall market.

Source: Yahoo

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