December Wal-Mart Sales at Lower End of Forecast
CHICAGO - Wal-Mart Stores, Inc. announced today that in spite of some improvement in last weekend's sales, it still expects December sales at its U.S. stores open at least a year to attain the lower end of its forecast for a 3 percent to 5 percent increase, according to Reuters.
In a recorded message the world's biggest retailer said, "Although we are not up to our original plan, progress was made over the recent weekend."
The Saturday before Christmas is normally the busiest shopping day of the year for retailers. Companies were relying on a successful weekend to save what has so far been a mediocre holiday shopping season.
For the second week running, according to Wal-Mart, fewer people shopped at its stores, although they spent more on average. Among the best-selling categories last week were pharmacy, electronics, toys, girls' clothing, outerwear, and pet supplies.
In a recorded message the world's biggest retailer said, "Although we are not up to our original plan, progress was made over the recent weekend."
The Saturday before Christmas is normally the busiest shopping day of the year for retailers. Companies were relying on a successful weekend to save what has so far been a mediocre holiday shopping season.
For the second week running, according to Wal-Mart, fewer people shopped at its stores, although they spent more on average. Among the best-selling categories last week were pharmacy, electronics, toys, girls' clothing, outerwear, and pet supplies.