Wal-Mart sees mid-range sales growth
New openings helping to drive expansion
Wal-Mart has reported same-store US sales growth towards the middle of its cautious targets for October.
The world’s biggest retailer said comparative US sales are expected to be 2.8 per cent for the month. Wal-Mart had been forecasting same-store growth of between 2 and 4 per cent.
With Halloween falling into its November sales period this year, Wal-Mart said October comparisons were hit by about 1 per cent by the timing. Overall, it expects Halloween sales to be equal to or better than last year.
With comparative customer numbers reduced by later holiday, customer traffic declined, leaving increases in average sales to drive the same-store increase. Wal-Mart’s strongest sales categories were bedding, childrenswear, food, and pet supplies.
Wal-Mart continues to drive total growth through expansion, and over the past week has opened 42 new stores, of which 35 were Supercenters and seven were discount stores.
