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Lower income shoppers still feeling pinched, U.S. retailers say

Cooler than usual weather and belt-tightening by shoppers still struggling with higher payroll taxes and stubborn unemployment dampened sales last quarter at chains from Macy's Inc to Wal-Mart Stores Inc .Wal-Mart reported a 1.4 percent drop in sales at Walmart U.S. stores open at least a year, and gave a profit forecast for the second quarter that missed Wall Street estimates. The world's largest retailer expects same-store sales at its namesake U.S. discount chain to be up 2 percent at best in the current quarter.Kohl's Corp , a department store chain that caters to lower-to-middle income families, posted a 1.9 percent decline in same-store sales. Last week, J.C. Penney Co Inc , dealing with some self-inflicted problems, said its same-store sales fell 16.6 percent. Dillard's Inc reported a 1 percent increase."We are seeing some weakness amongst our more budget-conscious, what we call deal-hunting, customers," Macy's Chief Financial Officer Karen Hoguet told analysts this week.Macy's ...

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  1. Wal-Mart pays some board members more on bribery probe work

    Wal-Mart Stores Inc said on Monday that members of its board's audit committee were paid more for the latest year due to extra work they had to take on to handle an ...

  2. Wal-Mart CEO's pay jumps 14.1 percent to $20.7 million

    Wal-Mart Stores Inc Chief Executive Mike Duke earned $20.7 million last year, up from $18.1 million a year earlier, as the world's largest retailer grew despite a sl...

  3. Wal-Mart Key Executive to Depart Next Month

    Wal-Mart (NYSE:WMT) chief administration officer and former general counsel Tom Mars will step down on March 13 after more than a decade with the company.The world's...

  4. Wal-Mart's U.S. administrative chief to step down

    Wal-Mart Stores Inc's U.S. Chief Administrative Officer Tom Mars will step down in March after more than a decade with the company, in which he also served as genera...

  5. Wal-Mart 4th-Quarter Net Up 8.6% on Lower Taxes; Sales Growth Slows

    Wal-Mart Stores Inc.'s (WMT) fiscal fourth-quarter earnings rose 8.6% amid a lower tax rate, while same-store sales at U.S. Wal-Mart stores were at the low end of th...

  6. Eurozone PMI Sinks Global Stocks

    FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.

  7. Wal-Mart Shuffles Latin America Team

    Wal-Mart Stores Inc. (WMT) said Friday that Eduardo Solorzano, who led the retailer's Mexican operation during an alleged internal bribery probe, will retire in Marc...

  8. Wal-Mart Shuffles Latin America Team Amid Ongoing Corruption Probe

    Wal-Mart Stores Inc. (WMT) said Friday that Eduardo Solorzano, who led the retailer's Mexican operation during an alleged internal bribery probe, will retire in Marc...

  9. Lawmakers: Wal-Mart CEO knew of Mexico bribe claim

    Lawmakers on Thursday released emails that appeared to show Wal-Mart Chief Executive Mike Duke knew as far back as 2005 of allegations that company representatives h...

  10. House Democrats Claim Wal-Mart Knew of Allegations

    Congressional Democrats claimed Thursday that Wal-Mart Stores Inc. (WMT) Chief Executive Mike Duke and other company leaders appear to have known about bribery alleg...

  11. Lawmakers: Wal-Mart CEO Was Aware of Bribery Claims

    U.S. lawmakers on Thursday released emails that appeared to show Wal-Mart Chief Executive Mike Duke knew as far back as 2005 of allegations that company representati...

  12. Walmex used bribes to open 19 Mexico stores: NY Times

    Wal-Mart Stores Inc's Mexican affiliate routinely used bribes to open stores in desirable locations, according to a New York Times investigation published Monday, wh...

  1. Wal-Mart's 2nd Quarter May Be Challenged; 1st Quarter Net Rises 1.1%

    Wal-Mart Stores Inc.'s (WMT) customers remain stymied by job and employment concerns, suggesting the company's second-quarter results will be challenged despite the ...

  2. Wal-Mart 1st-Quarter Net Up 1.1% on Modest Sales Rise

    Wal-Mart Stores Inc.'s (WMT) fiscal first-quarter earnings rose 1.1% as the world's largest retailer reported slightly stronger revenue amid continued challenges for...

  3. Wal-Mart Net Up 1% on Modest Revenue Rise

    Wal-Mart Stores Inc.'s (WMT) fiscal first-quarter earnings rose 1.1% as the world's largest retailer reported slightly stronger revenue, though same-store sales miss...

  4. Wal-Mart 1st-Quarter Net Up 1.1% on Modest Revenue Rise

    Wal-Mart Stores Inc.'s (WMT) fiscal first-quarter earnings rose 1.1% as the world's largest retailer reported slightly stronger revenue, though same-store sales miss...

  5. Wal-Mart Profit, Sales Miss Views; Shares Fall

    Wal-Mart Stores Inc. said its first-quarter profit rose 1.1% to $3.78 billion, or $1.14 a share, from $3.74 billion, or $1.09 a share, a year earlier. Revenue rose 1...

  6. Report: Wal-Mart Mulls CEO Successors

    Retail giant Wal-Mart Stores (NYSE:WMT) has reportedly picked a pair of top internal execs as possible contenders to succeed current CEO Mike Duke. According to Bloo...

  7. Wal-Mart Ties Executive Compensation to Compliance Overhaul

    Wal-Mart Stores Inc. (WMT) will base some executive compensation next year on whether the retailer successfully overhauls its compliance operations, a process it beg...

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