Share price falls
Wal-Mart, the world's biggest retailer, revealed monthly sales are likely to decline by 0.1 per cent for the first time in ten years. Along with the falling dollar, this has had a knock on effect for Wal-Mart shares, causing them to slide by nearly 3 per cent.
The weakening of the dollar since last week indicates a potential lack of confidence amongst foreign investors in the US economy.
According to analysts, Wal-Mart's forecast does not bode well for the US economy, because retailers are entering this crucial festive period.
Wal-Mart's stock, which attracts low-income customers affected by the fall in house prices and rise in energy costs, slipped 2.7 per cent to US$46.61 (£23.98).
However, some of the company's problems can be related to its store remodelling programme and tough comparisons against hurricane-affected sales this time last year.
The value retailer is seeking to improve sales by slashing the prices on toys, electricals, appliances, groceries and generic drugs.
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