Wal-Mart (NYSE:WMT), by all measures, surged in same-store sales in May, as the retail behemoth enjoyed growth of 4.4 percent in May, almost three times as much as the 1.6 percent increase projected by analysts. Even after excluding sales of fuel, the company still managed a significant 3.9 percent growth in same-store sales.
“Our comparable-store sales continue to increase because of our price leadership, merchandising initiatives and operational improvements," Eduardo Castro-Wright, Wal-Mart U.S. president and chief executive officer, said in a statement. "We also believe we're seeing some benefits from the stimulus checks."
Along with the economic conditions, which Wal-Mart obviously caters to, another reason for the strong increase in sales could be attributed to spending of stimulus checks in the economy.
Now you can see why the elites are so wrong about Wal-Mart, and their dubious attacks on the company are dishonest and unjustified.
Think of the pain consumers would be going through without Wal-Mart and other discount retailers.
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