Wal-Mart Stock Drops After Sales ‘Disaster’ Report
Shares of Wal-Mart dropped nearly 2% Friday (Feb. 15), after a research firm said that sales for the last four weeks look significantly softer at the big box retailer.
“In case you haven’t seen a sales report these days, February MTD sales are a total disaster,” Jerry Murray, Wal- Mart’s vice president of finance and logistics, said in a Feb. 12 e-mail to other executives, referring to month-to-date sales, according to Bloomberg. “The worst start to a month I have seen in my 7 years with the company.”
Wal-Mart said they “often see internal communications that are not entirely accurate, that lack the proper context and represent individual opinions,” in response to the email.