Wal-Mart sticking to modest forecast
Back to school lines help US sales
Wal-Mart is sticking a modest forecast of a 2 to 4 per cent same-store sales increase during September, as US consumers stay in cautious mode.
The world’s biggest retailer said it saw a pick-up in back to school sales during the week to September 13, with its strongest US sales including bedding, electronics, food, clothing pet supplies, and sporting goods.
Wal-mart said that increased customer traffic and increased average spend were positive, with each accounting for about half of the sales increase.
Regionally, the East and the Northeast US saw the strongest sales. Wal-Mart said more than 150 stores saw sales hit by hurricane Frances, with an increasingly familiar sales pattern emerging – hurricanes affect the timing of sales as they sweep through an area but end up having a mildly positive effect on overall sales as consumers replace and repair damage.
