Wal-Mart’s share price soared 13 percent in 2008. However, the stock has slipped almost 6 percent so far this year, as investors focus on beaten-down shares of companies that sell more discretionary items like clothing and home furnishings.
Shares slipped 19 cents to $51.70 Tuesday, below the middle of its 52-week range of $46.25 and $59.23. Wal-Mart’s stock suffered from 2005 to late 2007 as its zigzag between upscale and discount goods slowed sales growth.
Some analysts expect Wal-Mart Stores Inc. may announce plans Wednesday at its analysts’ meeting that it will accelerate U.S. store growth next year. Wall Street is also looking to hear details of more price-cutting strategies as it heads into the holiday season.
Any move to increase store growth would come as the world’s largest retailer has come a long way in improving store performance by paring down inventory, offering spruced-up merchandise and remodeling stores.
Leave A Reply (Be The First )
The comments are closed.