May 11, 2007
Wal-Mart, the world's largest retailer, yesterday posted its worst monthly sales figures since its records began in 1980.
The company said same store sales fell 3.5% in April on the same month a year ago. Same store sales measure the performance of stores that have been open for at least 12 months.
But Wal-Mart was not the only US retailer turning in a poor performance in April, triggering fears that the US housing slump might be spilling over into consumer spending and that the economy might be taking a turn for the worse.