Interviews
News Flash
Wal-Mart same-store sales rise in September
10 Oct '08
5 min read
In China, the Wal-Mart and Trust-Mart businesses delivered solid performances leading into the Mid-Autumn Festival. Average ticket in both businesses increased. Five new Wal-Mart supercenters opened during the month.
At Seiyu in Japan, comparable store sales were in the negative mid-single digits. Food sales were impacted by softer sales in beverages, produce, seafood and chilled foods. General merchandise sales continue to be negatively impacted by the strategic reduction of promotional activities, as Seiyu continues to migrate toward every day low pricing (EDLP). Baby product sales continue to improve due to this emphasis on EDLP. Wal-Mart Mexico sales continued to be impacted by the slowdown of the Mexican economy. While consumer confidence has sharply declined during the past month, nominal comparable store sales were 3.8 percent higher for the five-week sales period, led by performances at Sam's Club and Bodega Aurrera. Wal-Mart Mexico reported its third quarter results yesterday, after the market closed.
Total International sales were impacted negatively by the strengthening of the U.S. dollar against the British pound. International net sales figures for both five weeks and 35 weeks ended Oct. 5, 2007 included an immaterial adjustment to sales as reported in last year's September comparable store sales news release. These adjusted numbers on page one of this news release ($8.718 billion and $57.730 billion, respectively) do not affect Wal-Mart International's or the Company's consolidated net sales figures disclosed in quarterly earnings press releases or periodic filings with the U.S. Securities and Exchange Commission.
Guidance : The Company expects U.S. comparable store sales for the October four-week period to be between one and two percent, said Tom Schoewe, executive vice president and chief financial officer. The October four-week period runs from Saturday, Oct. 4 through Friday, Oct. 31, 2008. “The September period included two first-of-the-month paydays, which generally benefit sales,” Schoewe said. “However, the October period this year contains no first-of-the-month payday, and that is accounted for in our estimate. “We maintain our current estimate for earnings per share from continuing operations for the third quarter ending Oct. 31, 2008 to be in the range of $0.73 and $0.76 per share,” he said.
Wal-Mart will announce earnings for the third quarter of fiscal year 2009 on Nov. 13, 2008.
At Seiyu in Japan, comparable store sales were in the negative mid-single digits. Food sales were impacted by softer sales in beverages, produce, seafood and chilled foods. General merchandise sales continue to be negatively impacted by the strategic reduction of promotional activities, as Seiyu continues to migrate toward every day low pricing (EDLP). Baby product sales continue to improve due to this emphasis on EDLP. Wal-Mart Mexico sales continued to be impacted by the slowdown of the Mexican economy. While consumer confidence has sharply declined during the past month, nominal comparable store sales were 3.8 percent higher for the five-week sales period, led by performances at Sam's Club and Bodega Aurrera. Wal-Mart Mexico reported its third quarter results yesterday, after the market closed.
Total International sales were impacted negatively by the strengthening of the U.S. dollar against the British pound. International net sales figures for both five weeks and 35 weeks ended Oct. 5, 2007 included an immaterial adjustment to sales as reported in last year's September comparable store sales news release. These adjusted numbers on page one of this news release ($8.718 billion and $57.730 billion, respectively) do not affect Wal-Mart International's or the Company's consolidated net sales figures disclosed in quarterly earnings press releases or periodic filings with the U.S. Securities and Exchange Commission.
Guidance : The Company expects U.S. comparable store sales for the October four-week period to be between one and two percent, said Tom Schoewe, executive vice president and chief financial officer. The October four-week period runs from Saturday, Oct. 4 through Friday, Oct. 31, 2008. “The September period included two first-of-the-month paydays, which generally benefit sales,” Schoewe said. “However, the October period this year contains no first-of-the-month payday, and that is accounted for in our estimate. “We maintain our current estimate for earnings per share from continuing operations for the third quarter ending Oct. 31, 2008 to be in the range of $0.73 and $0.76 per share,” he said.
Wal-Mart will announce earnings for the third quarter of fiscal year 2009 on Nov. 13, 2008.
Wal-Mart Stores Inc
Popular News
Leave your Comments
Editor’s Pick
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
