Wal-Mart's November Sales Fall as Holiday Shopping Starts 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 in the first month of the holiday season. Wal-Mart had forecast that same-store sales would be unchanged this month, the worst performance since April 1996, when sales declined slightly. Wal-Mart marked down toys, electronics, small appliances and groceries and cut prices on generic drugs in 38 U.S. states to draw customers after sales slowed. Chief Executive Officer H. Lee Scott told analysts in October he expected sales to improve as holiday merchandise went on sale and gasoline prices fell. The company's markdown strategy could be risky, said Walter Todd, who helps manage $850 million at Greenwood Capital in Greenwood, South Carolina. ``That could really be disastrous for them because if the sales don't come through, they're really going to get creamed,'' said Todd. He sold his Wal-Mart holdings earlier this year on concern over slowing sales. While retailers make less per item, they hope price cuts will spur shoppers to buy more merchandise. Wal-Mart has said disappointing clothing sales and disarray from store renovations have hurt results, with October comparable sales rising 0.5 percent after the company predicted a gain of 2 percent to 4 percent. The company's same-store sales have slowed even as gasoline prices declined. The retailer began its holiday promotions on Oct. 18 by cutting prices on 100 toys.