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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Kenneth E. Phillipps who wrote (125646)3/7/2012 10:20:34 AM
From: Hope Praytochange2 Recommendations  Read Replies (1) of 224722
 
Wal-Mart says it's watching gasoline price closely
•kennytroll walmart weekend door greeter

By Andria Cheng 1.00%0.75%0.50%0.25%0.00%10a11a12p1p2p3p
WMT XX:RLX NEW YORK (MarketWatch) -- Walmart U.S., the biggest division of the world's largest retailer Wal-Mart Stores Inc. /quotes/zigman/245476/quotes/nls/wmt WMT +0.99% , is "pleased with its traffic and sales so far in the quarter," the company's Chief Financial Officer Charles Holley said at a Bank of America Merrill Lynch conference on Wednesday. The unit just posted second straight quarter of positive comparable-store sales gains. Holley said the rising gasoline price will be the one wildcard the company is watching closely. "If oil continues to go up, that could be a drag on economies around the world," he said. Still, he said there's been a "new mindset" with its customers over the last five years and they are responding better to a price level at about $3 to $3.30. "The customer is probably resetting expectations in their budgets around that higher gas price. Having said that, I do think gas prices are going to be critical going forward for the customer. If gas prices do start getting upward, to creeping back up to $4 and $5, I think that's going to be a problem for our customer." Wal-Mart stock rose 0.7%. The S&P Retail Index /quotes/zigman/2621082 XX:RLX +0.64% also was up the same percentage.
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