WMT only beat due to wrmer weather. i think they might sell off the market today as all other retail looked horrible with their numbers with the exception of ZUMZ. also as i mentioned ,import prices came in much higher than expected.
Most of the other retailers that reported, reported a weaker consumer. There is a lot of trading down going on. Looks like the higher end such as Macy's and Nordstrom are starting to feel the effects as well. TGT guided to lower end of earinings as well as JCP. The GAP imploded, horrible stuff there. Consumer looks to be very cautious and a little weaker, starting to pull in the horns a little. Import prices also looked like they're ticking up, hmmmm inflation importing is picking up. Are the chickens coming home to roost? Bernanke cut again and drive the stake through the dollar's heart so the US consumer's buying power will be nil and America will become a tourist destination for all the appreciating currency nations. Hey, I guess we will all have jobs serving burgers that we can't afford to the German, French, Irish, Brit., Canadian, etc... tourists. Good Luck!
wmt didnt beat their SSS They actually missed. 1.4% vs 1.9% they missssed, nearly every retailer missed yet the market rallies. hmmmm they blamed it on the "WEATHER" what a JOKE!!!