NEW YORK (CNNMoney.com) -- Wal-Mart Stores reported March sales Thursday that were much softer than analysts' forecasts, citing an "Easter calendar shift" that it expects to push holiday-related purchases into April.
Wal-Mart (WMT, Fortune 500), the world's largest retailer, said sales at its stores open at least a year, a key measure of performance known as same-store sales, rose 1.4% last month.
Analysts, on average, had expected the company to post an increase of 3.2% in March, according to sales tracker Thomson Reuters.
Although comparable store traffic increased in the month, the retailer said the average checkout total was lower, "mostly due to the Easter shift and, to a lesser degree, inflation at a lower rate than last year in grocery."
http://money.cnn.com/2009/04/09/news/economy/retail_sales/index.htm
Of course a late Easter is to blame. We all know what a big holiday shopping season Easter is. :eyes:
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