Wal-Mart 2Q profit rises 3.6 pct on cost-cutting - Yahoo! Finance: "Wal-Mart benefited during the recession as affluent shoppers traded down to cheaper stores. But it acknowledged in May that it's losing some of those customers, who've started to trade back up. Meanwhile, stubbornly high unemployment and tight credit are still squeezing its main lower-income customers, who are having more trouble stretching their dollars to the next payday...
Wal-Mart has said it's own strategies are partly to blame for its weak U.S. business. Wal-Mart has acknowledged that its campaign to declutter its stores went too far, leading shoppers to flee to rivals such as Target Copr. for favorite brands. It has been scrambling to restock some products over the past year..."
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