date:May 17, 2013
my of the expiry of payroll tax breaks anddelays in receiving income tax rebates. Walmart previously gaveguidance of around flat comparable sales growth in the US inQ1, but Targets downgrade during this Q1 prompted fears of fardeeper consumer malaise. These were more than realized with avery disappointing comparable sales performance (excluding fuel)at Walmart US of -1.4%.
Two pressing issues demanded immediate responses in Q1 in theUS: arresting the decline in traffic and addressing the percei