Walmart Continues To Prosper In Tough Economy
Yesterday morning Walmart (WMT) reported another solid quarter (WMT FY 3Q Earnings Release). This morning The Wall Street Journal ran a front page article on them: “Walmart Flourishes As Economy Turns Sour” (subscription required).
While other retailers were reporting horrid same store sales, Walmart’s actually increased 2.7% in the quarter, including 2.2% in October.
As I’ve written before, a tough economy is Walmart’s sweet spot. This is The Walmart Economy!
Since we’re probably heading for a multi-year, generational shift in consumer spending towards thrift this is shaping up to be quite a good stretch for Walmart.
Disclosure: Top Gun is long shares of Walmart (WMT).