The retail financial barometer of the country has weighed in with it's first report and it doesn't look so hot.
With 123 Wal-Mart stores closed or not operating under normal conditions the data that comes back may be staggering. Wal-Mart has one of the most complex and thorough data processing and analysis systems in the world, but with 3.3% of its stores closed or on limited schedules that data is going to be affected instantaneously. Wal-Mart has reported 100 million customers a week visit their stores, if that number was to drop to 75 million for an extented period of time the results would be felt across all industries.
Wal-Mart: 123 Stores Closed After Katrina (Reuters)
CHICAGO — Wal-Mart Stores Inc. (WMT) Tuesday said 123 of its U.S. stores, or 3.3 percent, were closed due to Hurricane Katrina (search), many because of power outages.
The closures included both Wal-Mart and Sam's Club (search) stores, a spokeswoman said, adding that two distribution centers were also closed.
It was too early to say what financial impact the shutdowns would have, the spokeswoman, Sharon Weber, said.
Weber said the number of store closings is "fluid," as some stores open and others close.
Ninety-seven of the closings were due to power outages, she said, adding that local curfews were also impacting stores. The company is sending generators to places where power will likely be a continuing issue, she said.
Damage to roads and other problems also are affecting stores, she said.
"We'll certainly open up as soon as we possibly can, but it's just going to take some time," Weber said.
