Wal-Mart today announced record sales for its fourth quarter, topping $100 billion. According to CEO Lee Scott, this is the first time any retailer has ever done that in a quarter, and we have no reason not to believe him.Earnings came in just under $4.1 billion, a 4% increase over last year. And though they weren't terribly strong, same-store sales without gas rose 1.7% year over year at the retail giant's US stores.Though Wal-Mart has toned down it's US expansion plans and there are problems with the overall economy, results like this are hard to put down. As Scott says: "Customers were more cautious in their spending in January. In a volatile economy, I believe we are well positioned to succeed."Is he right? And is Wal-Mart's success an indicator of retail overall, or will we see discounters succeed more than others in this environment?
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