Wal-Mart reports November sales

Source: Exec Digital USA

Date :06/12/2007 08:57:22

Wal-Mart Stores Inc., the world's largest retailer, said today its November sales at U.S. stores open at least a year have grown by 1.5 percent.

The results topped Wall Street expectations for a 1.2 percent increase.

Same-store sales is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.

Including fuel, same-store sales rose 1.9 percent for the four weeks ended November 30. Excluding fuel, same-store sales rose one percent at Wal-Mart Stores, slightly below analysts' 1.2 percent forecast, and 4.3 percent at Sam's Club, easily beating Wall Street's three percent projection.

Total sales for the month rose 8.4 percent to $31.72 billion from $29.27 billion a year earlier, including a 4.8 percent jump at Wal-Mart Stores, an 8.7 percent rise at Sam's Club and international sales growth of 18.6 percent.

Positive

The company said Wal-Mart's November same-store sales were driven by grocery and pharmacy goods, as well as solid "Black Friday" sales across the store, from entertainment items to sleepwear. The home category remained soft.

Sam's Club saw strong performance in electronics and video games, as well as produce, bakery, juice and water. Higher gas prices also boosted total sales. The company said sales of toys and Christmas seasonal items are meeting expectations moving into the December five-week period.

Abroad, the retailer said operations in the United Kingdom, Brazil, China and Argentina continue to be positive, but a weak consumption environment continues to affect sales growth in Mexico.

Looking ahead, Wal-Mart Stores sees December U.S. same-store sales growing between one percent and three percent.

December 6, 2007