In Wal-Mart and Home Depot Results, a Worried Consumer

For two major retailers reporting quarterly results on Tuesday, consumers appeared to be holding back.

Steeper price-slashing did not lure customers into spending more at Wal-Mart, while shoppers at Home Depot spent less and put off big home improvement projects or big-ticket items like appliances.

Both Wal-Mart Stores and Home Depot posted second-quarter profits on Tuesday that beat analyst estimates, and both slightly raised their full-year earnings guidance for the year. Yet their results suggested that American consumers were not spending as much as had been expected.

Read Full Article from New York Times

- Posted: 2010-08-17 21:38:21

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