Consumer fear over economy stalls sales - CBS News: Wal-Mart stores account for more than 11 percent of this country's retail sales. But CEO Mike Duke said his customers are stretched, struggling and worried about jobs.
It showed in Wal-Mart's second-quarter sales -- down nine-tenths of one percent -- their ninth-straight quarterly drop.
Add to that another report out that says sales at U.S. chain stores overall fell one-and a-half percent last week -- the third-straight weekly decline. CBS News correspondent Jim Axelrod reports on how a cutback in consumer spending is threatening the recovery.
From televisions to townhouses, consumer fear of the future is stalling sales.
"The pace of sales was slower than we ordinarily would like to see them," said New Jersey developer Russ Lupino.
No comments:
Post a Comment