The world's largest retailer leads a parade of sales misses in January, indicating trouble in the U.S. economy.
U.S. retailers are on track to report their slowest monthly sales growth in five years, which would further cement fears that American consumers are buckling under the weight of a slowing economy.
Leading the way is No. 1 retailer Wal-Mart Stores Inc., (WMT, Fortune 500) which on Thursday reported a big miss in its January same-store sales, or sales at stores open at least a year. Same-store sales is a key measure of performance in the retail industry.
Wal-Mart partly blamed its soft sales on poor gift card redemptions, but one retail analyst wasn't buying that explanation.
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