Wal-mart positive on stronger February sales
Same store increase at top end of forecasts
Wal-Mart had a stronger February than expected, with its US same store sales growth finishing marginally ahead of its forecasts.
For the four weeks to February 25, the world’d biggest retailer saw comparable sales were up 4.1 per cent, spread evenly across its Wal-Mart and Sam’s Club outlets and marginally over the top end of its forecast of 2 to 4 per cent growth.
Total company sales were up 10.9 per cent year-on-year to $22.4bn, with US Wal-Mart stores up 11.1 per cent to $15.1bn and Sam’s Club up 5.4 per cent to $2.8bn.
International sales, including Asda in the UK, were up 14.4 per cent to $4.4bn, wt the strongest sales in Argentina, Mexico, and Puerto Rico.
In the US, Wal-Mart said food sales growth was stronger than general merchandise, with both average ticket and customer traffic increasing. For Marc, the company is forecasting comparable store sales growth in the US to be similar to or better than February.
