Financial Times FT.com

Rising petrol costs take toll on Wal-Mart sales

By Jonathan Birchall in New York

Published: July 6 2006 14:52 | Last updated: July 6 2006 23:47

Wal-Mart, the largest US retailer, said on Thursday that its customers were increasingly feeling the pressure of higher fuel prices, as it reported that comparable sales at its discount stores increased by just 1.1 per cent during June.

Tom Schoewe, chief financial officer, said research among Wal-Mart’s predominantly lower income shoppers showed increasing concern about the rise in petrol prices over the past year.

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