Wal-Mart's U.S Sales Appear Soft
The world's largest retailer said its fourth-quarter profits rose 22 percent. Sales for U.S. stores, however, fell nearly 2 percent. Some analysts say that's partly because of the company's aggressive cost-cutting on food and electronics during the holidays.
RENEE MONTAGNE, host:
NPRs business news starts with Wal-Mart's earnings.
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MONTAGNE: Even Wal-Mart is not immune to the recession. Today, the world's largest retailer said its fourth quarter sales for U.S. stores fell nearly two percent. Some analysts say that's partly because of the company's aggressive cost-cutting on food and electronics during holidays. But Wal-Mart's earnings also reflect consumer spending, which has fallen off.
For the entire year, Wal-Mart said sales did climb a bit from 2008 and reached just over $4 billion in 2009.
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