Wal-Mart International shows double-digit sales gain
06 Sep '08
2 min read
Wal-Mart Stores Inc reported net sales for the four- and 30-week periods ending Aug. 29, 2008, and Aug. 31, 2007
Walmart U.S.: "The underlying business performance for Walmart U.S. continued to show strength and the improved relative performance has resulted in market share gains," said Eduardo Castro-Wright, Walmart U.S. president and chief executive officer.
Customers also responded well to school and college seasonal offerings throughout the store, driving sales in denim products, licensed apparel, school supplies and home furnishings. As with other seasonal events, customers are shopping closer to their needs. With many more schools opening later this year, overall business accelerated at the end of the month.
As of yesterday, fewer than 50 Walmart stores in the Gulf Coast area remained closed as a result of power outages and other issues related to Hurricane Gustav.
Sam's Club: In general merchandise, apparel benefited from solid sales of fall transitional items. Softness continued in house wares and furniture.
While 13 clubs in the Gulf Coast area were closed for at least one day as a result of Hurricane Gustav, all have since reopened.
Wal-Mart International: "While there are increased economic challenges in some of our markets, Wal-Mart International showed a double-digit sales gain," said Mike Duke, vice chairman, Wal-Mart International. "We continue to respond to the needs of our customers by fine-tuning our product offerings and emphasizing price leadership everywhere we do business."
Wal-Mart Brazil achieved solid August comparable store sales, driven by hypermarkets in the Southeast, supermarkets in the South and the Maxxi cash and carry business.
The September five-week period runs from Aug. 30, 2008 through Oct. 3, 2008. Sales results for the September period will be reported Oct. 8, a day earlier than previously announced, to avoid a conflict with Yom Kippur, which is observed on Oct. 9.
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