Wal-Mart Store‘s (WMT) stock was enjoying a fairly quiet day until about the time this was published:
�In case you haven�t seen a sales report these days, February MTD sales are a total disaster,� Jerry Murray, Wal- Mart�s vice president of finance and logistics, said in a Feb. 12 e-mail to other executives, referring to month-to-date sales. �The worst start to a month I have seen in my ~7 years with the company.�
That’s from a great scoop by Renee Dudley, which has clearly spooked the market — the stock, which was roughly flat for the day, is now down 3.5% and volume has spiked.
FactSet(Click on the image for a larger version.)
Dudley also notes an email by a senior VP saying he was relieved to see January end, so poor were the results. Unsurprisingly, a Wal-Mart spokesman quoted by Dudley said the emails were “not entirely accurate.”
The news is also dragging down shares of Target (TGT), Family Dollar (FDO) and Dollar General (DG) all falling at about the same time as Wal-Mart, and at the latest down 2%, 1% and 0.5% respectively. Dollar Tree (DLTR) stock also fell, but has recovered and is back up 2.7%.
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