With $4 Gas, More Folks Skip the Trip to Wal-Mart and Lowe's

Image via WikipediaAmericans living paycheck to paycheck are looking at the gas gauge before they run their errands, and that's hurting big retail chains such as Wal-Mart Stores Inc. and Lowe's Cos.

"Our customers are consolidating trips due to higher gas prices," said Wal-Mart U.S. head Bill Simon during the retailer's earnings conference call Tuesday. "One in five Wal-Mart moms list gasoline as a top expense behind housing and car payments."

Reflecting those concerns about the cost of driving, customer visits to Wal-Mart are down—and that's hurting sales. More...