January: Good For Wal-Mart (WMT), Horrible For Everyone Else


Wal-Mart (WMT) continues to get people in the doors, despite the economy. The discounter reported January sales growth of 2.1%, compared to previous estimates of 1.1%.

But it looks like that’s where the good news ends in retail world. The Gap’s (GPS) sales were a total horror show, falling 23% on a same-store basis, well worse than expectations. Similar story at American Eagle (AE), where sales were down 22% in the month.