GENERAL MERCHANDISE NEWS
Higher customer traffic boosts Wal-Mart
7 November, 2004 | by Retail Bulletin
Retail giants sticks to its guns on sales forecasts
Wal-mart is staying with its forecasts for same store sales growth, amidst signs that more US shoppers are shifting spending to the discount sector.
The world’s biggest retailer said that in the week to November 6, both basket size and shopper numbers were up in its US stores.
Increased customer numbers accounted for two-thirds of sales growth, suggested the discount sector, led by Wal-mart, is attracting more customers, but that spending is cautious.
Wal-Mart is still estimating that same store US sales will rise by between 2 to 4 per cent range during November.
The company said its strongest sales categories in the US last week were bedding, ladieswear, food, and pet supplies.
