Wal-Mart Same-Store Sales Fall First Time in 10 Years

  By Lauren Coleman-Lochner and Dan Hart

  Nov. 25 (Bloomberg) -- Wal-Mart Stores Inc., the world's largest retailer, said November sales at U.S. stores open at least a year fell 0.1 percent, the worst performance in more than a decade as the holiday selling season got under way.

  Wal-Mart's sales are slumping as retailers enter a quarter that accounts for almost one-third of annual profits. Sales on the day after Thanksgiving rose 6 percent from a year ago to $8.96 billion, ShopperTrak RCT said today. Bentonville, Arkansas-based Wal-Mart's attempt to spur holiday demand with lower prices may be risky, said money manager Walter Todd.

  ``That could really be disastrous for them, because if the sales don't come through, they're really going to get creamed,'' said Todd, who helps manage $850 million at Greenwood Capital in Greenwood, South Carolina. He sold his Wal-Mart holdings earlier this year on concern over slowing sales.

  Wal-Mart said earlier this month that disappointing clothing sales and disarray from store renovations hurt results in October, when comparable sales rose 0.5 percent. The retailer began its holiday promotions Oct. 18 by cutting prices on 100 toys. The company will give final sales figures Nov. 30, when most U.S. retailers report November results.

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