CALM: Announce New Dividend Policy; Shares Shed Over 5.5%
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Submitted By Knobias ClipReport
Thursday’s session saw stocks unexpectedly rise following a deluge of disappointing same store sales numbers. The lone rouge was Wal-Mart who saw a .7% gain in year over year sales numbers for the month of March which was at the low end of their guidance. The increase has been deemed a textbook effect from rising prices and lowered real income. Consumers seem to have shifted from high end and middle tier retailers to more affordable discount retailers in an attempt to lessen the impact from rising energy and food prices on their budgets.
