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Wal-Mart CEO: Recession Has Changed Consumers for the Better Suggesting that retailers are closer to working men and women than any other industry, Wal-Mart CEO H. Lee Scott addressed the public once more in his farewell address after ten years at the helm of the retail megastore. Scott offered a candid take on the country's current economy and where its going. Hes confident that the first half of 2009 will bring more of the same struggles for both retailers and consumers, and its his belief, as ... Struggling Retail Industry Causing Major Slips on Wall St. That optimistic stock report we brought you a couple weeks ago is now officially old news. The Dow Jones industrial average dropped for the sixth day in a row yesterday, with its 250 point loss pitting the Dow at its lowest point since December 1. The same can be said about Standard & Poors 500 index, which lost 3.4%. The Nasdaq composite dropped to its lowest point since December 4. The New York Times Jack Healy attributes the figures to a gloomy retail ... Drop in Holiday Spending Spells More Trouble for Retailers in 09 Described by industry analysts as one of the worst holiday season sales periods on record, Decembers retail sales figures plummeted 4% from last years numbers. Retailers are finally coming to grips with the fact that the American public has gone into a full-on savings mode that wasnt the norm in recent years. Original forecasts had widely predicted just a 1% drop in sales, though some analysts had actually predicted a 2.2% increase. It appears to have been wishful thinking ...