Wal-Mart, Costco Sales Gain as Bargains Lure Shoppers

Wal-Mart Stores Inc. and Costco Wholesale Corp. said March sales rose as consumers buffeted by job losses and declining home values sought discounts on food and electronics.

Wal-Mart, the world's biggest retailer, said sales at stores open at least a year increased 0.7 percent, within its forecast, helped by grocery and flat-panel TV sales. The Bentonville, Arkansas-based company raised its first-quarter profit projection.

``The discounters, the warehouse clubs, that's who we think are going to be the winners in this retail environment,'' Joseph Feldman, an analyst with Telsey Advisory Group in New York, said today in a Bloomberg Television interview.

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- Posted: 2008-04-10 09:21:58

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