The consumer giveth, and the consumer taketh away.
shares fell 2% after the world's biggest retailer said that same-store sales at its main Wal-Mart division were below expectations last week. That follows two weeks of on-plan sales.
In a recorded message for investors, the company said sales at Wal-Mart stores open at least a year were "slightly below" the company's plan of 4% to 6% growth. Same-store sales at the company's
division, however, were slightly above plan. Total same-store sales growth for the month is still tracking in the expected 4% to 6% range, though it will likely be at the lower end of that range due to a calendar quirk.
Wal-Mart shares fell $1.13, or 2.2%, to $50.88. The stock is still about 28% off its 52-week high but has rallied in recent weeks.