Wal-Mart sticks with May forecasts
US same store sales on track
Wal-Mart says it is on track to meet its forecasts for same store sales growth in the US during May.
At the half-way point of the month, Wal-Mart said comparative sales in the US, covering both the Wal-Mart stores operation and the Sam’s Club warehouse chain, are in line with its forecast of a 2 per cent to 4 per cent increase for May.
In the week to May 14, Wal-Mart’s food sales were stronger than general merchandise sales. Higher spending per visit, rather than increased customer footfall, drove the increase.
Wal-Mart has raised its forecasts for May from April, when it recorded a total US comparable store sales increase of 0.9 per cent, made up of a 0.1 per cent rise in the Wal-Mart division and a 4.9 per cent increase at Sam’s Club.
[img r]asdasutton2.jpg[/img]The world’s biggest retailer is looking to improve overall on a disappointing first quarter. Last week, the company said that higher fuel prices and poor weather had hit US sales across the three months to the end of April. Wal-Mart also acknowledged that sales growth at UK business Asda were below its internal targets.
