Over the past decade, when gasoline prices have been
falling, year-on-year same-store sales gains at Wal-Mart have tended to outpace
the growth in overall retail sales and vice versa.
Walmart Sales versus Gasoline
click for much larger chart
it is not necessarily causal, it lends some credence to the idea that the
working-class customers of the nation’s largest retailer adjust their spending
in response to what they must pay at the pump.
of the Day:
“There is no cure for birth or death save to enjoy the