Wal-Mart reports slow apparel sales

Four years after launching the first of several designer labels, Wal-Mart has yet to convert many of its socks-and-denim shoppers into fans of its more fashionable and more profitable apparel offerings. Sales at Wal-Mart stores open at least a year rose a paltry 1.3 per cent in September, and apparel sales were a big reason. Clothing sales last month "failed to meet our expectations," the company conceded in a statement. The results are especially troubling given that September was a booming time for department stores. Soft apparel sales could drag down Wal-Mart’s overall holiday results. Shares fell 4 cents to US $ 48.28.