Wal-Mart sees steady January growth
World’s biggest retailer sticking to same store forecast
Wal-Mart is sticking with modest same store sales growth forecast in the US after its January sales figures came in tpward the lower end of its exectations.
In the four weeks to January 28, total US comparable sales increased by 2.5 per cent. The world’s biggest retailer had been forecasting growth of between 2 and 4 per cent. Across the month, Wal-Mart stores saw comparable sales growth of 3.2 per cent, while the Sam’s Club warehouse business, which lost a day’s trading due to the timing of New Year, saw a decline of 0.8 per cent.
Total company sales grew by 9 per cent across the month to $19.8bn. Wal-Mart US stores saw an increase of 10.7 per cent to $13.2bn, while Sam’s Club increased by 1.4 per cent to $2.5bn. Wal-Mart’s international operations, including Asda in the UK, increased sales by 8.6 per cent in January to $3.8bn. Wal-Mart’s best international sales performances came from Argentina, Brazil, and Puerto Rico.
For February, Wal-Mart is again forecasting comparative US sales growth in the 2 to 4 per cent range.
[img r]targetstore2.jpg[/img]By contast, rival discounter Target outperformed expectations in January, with US same store sales up 9.4 per cent, above its 6.6 per cent forecast.
