Shares of Wal-Mart Stores Inc. of Bentonville fell in Monday trading after the world's largest retailer said November U.S. same-store sales will decrease 0.1 percent — the first decrease for Wal-Mart in 10 years.
Shares of Wal-Mart (NYSE: WMT) were trading at $47.10 on Monday, down more than 1 percent.
Wal-Mart announced the decrease on Saturday. Like other major retailers, it is scheduled to release complete results for November, which include Black Friday sales, on Thursday.
The decrease comes even as Wal-Mart made aggressive discounts in electronics and in other departments earlier this year than last. Adding to the injury, Wal-Mart's Web site was inaccessible throughout Friday morning, overwhelmed by heavy traffic.
Wal-Mart is now left to make up the shortfall in December and January. Because Christmas is on a Monday this year, many analysts believe the Saturday before Christmas, Dec. 23, will be the heaviest shopping day of the year. And many shoppers have begun waiting to make bigger purchases in January, when they arrive in stores to cash gift cards.
Start Your Free Trial of
- News & Analysis
- Event Tickets & Nominations