StreetInsider reports on Walmart December sales. I will grant one excuse I usually dismiss. The weather was bad in some regions. Of course I've yet to hear good weather given any credit for increased sales.
"Due to the difficult economy and severe winter weather in some regions, the holiday season was more challenging for retailers than expected," said Eduardo Castro-Wright, vice chairman, Wal-Mart Stores, Inc. "We are pleased that we had positive traffic for the third month in a row and that Walmart performed relatively well given the environment."
EPS guidance $1.06 Nov 13th versus $0.91-$0.94 Jan 8th. The morning futures and the stock tanked in pre-market trading.
More evidence of containment not being contained. The talking heads were all inventing unsupportable theories of moving downscale or grabbing market share or I don't know, Princess Ponies pooping pillow mints.
It can only be hoped that bad news actually shows up in the markets. We've been disconnected for far too long. Otherwise we'll all be in the urinal: