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August 16, 2006
Free advice from Wal-Mart CEO, Wed., Aug. 16, 2006, 6:59 AM
The person with the best view of the U.S. economy, Wal-Mart CEO Lee Scott, says that retail sales are disappointing because American consumers are making fewer shopping trips in order to save gas, while at the same time costs of fuel and utilities are way up for retailers, so profits are down.
As I read it, the man is saying: "Put your money in the bank and prepare for the day when gas prices come down. Then, if you are a consumer, spend, and if you are an investor, buy the shares of retailers."
Isn't what this market today is all about? Waiting for oil costs to drop so that the economy can get going again?
Don't forget to read this week's Value Line report on Cara 100 Wal-Mart.
Wal-Mart [GICS 30, Dow 30, Cara 100]
(WMT: Yahoo Finance file)
(WMT: StockChart chart)
(WMT: Investertech chart)
(WMT: ADVFN Financial Data)
(WMT: ADVFN Financial Data)
(WMT: Value Line Report Aug. 11: next one is due Nov. 10)
Posted by Posted by Bill Cara on August 16, 2006 06:59:23 AM | Category: