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To: MythMan who wrote (338314)	7/12/2007 11:04:43 AM
From: Broken_Clock	Respond to of 436258

Big Picture Forget inflation. Forget fuel. Just party dudes! Retail Day ! Thursday, July 12, 2007 \| 10:17 AM in Consumer Spending \| Inflation \| Retail Today is Retail Day. Let's stick with that theme. Wal-Mart (WMT) surprised to the upside, event though they were widely projected to be a laggard. As a company, they posted a 2.4% increase in US June same-store-sales (excluding fuel). The Wal-Mart stores saw a 1.6% gain, while membership wholesaler Sam's Club posted a big 6.9% jump (excluding fuel). The rest of the Retail complex was mixed. Markets are rallying on the news. Following our discussion yesterday on core-inflation (ex-food and energy), and given that Wal-Mart is the biggest supermarket in the country, I am curious as to this small detail: How much of Wal-Mart's gains are due to food inflation? The firm refuses to report ex-food, although they do report ex-energy. Inquiring minds want to know!