Today is Retail Day. Let’s stick with that theme.
Wal-Mart (WMT) surprised to the upside, event though they were widely projected to be a
laggard. As a company, they posted a 2.4% increase in US June
same-store-sales (excluding fuel). The Wal-Mart stores saw a 1.6% gain, while membership wholesaler Sam’s Club posted a big 6.9% jump (excluding
fuel). The rest of the Retail complex was mixed.
Markets are rallying on the news.
Following our discussion yesterday on core-inflation (ex-food and energy), and given that Wal-Mart is the biggest supermarket in the country, I am curious as to this small detail:
How much of Wal-Mart’s gains are due to food inflation?
The firm refuses to report ex-food, although they do report ex-energy. Inquiring minds want to know!
Here’s the WSJ public page on retailers: