Same-Store Sales Up at Wal-Mart
BENTONVILLE, Ark. -- Wal-Mart Stores yesterday reported its same-store sales for June rose 2.7 percent, as a burst of hot weather in the latter part of the month boosted sales of summer goods.
Net sales reached $24.64 billion for the five-week period ended July 4, up 11.1 percent from the same period a year ago. Top-selling categories at its namesake Wal-Mart discount stores included food, pet supplies, live plants, office supplies, and over-the-counter drugs. At its Sam's Club warehouse club division, top sellers were food, office supplies, books, jewelry, and live plants. Sam's had a 4.1 percent same-store sales increase for the month, while same-store sales were up 2.4 percent at Wal-Mart stores.
Wal-Mart said warmer weather in the second half of the month revived demand for seasonal goods, such as air conditioners, although inventory levels were still higher than it had planned. Wal-Mart expects July same-store sales to hit the high end of its forecast of a 2 percent to 4 percent increase.
Net sales reached $24.64 billion for the five-week period ended July 4, up 11.1 percent from the same period a year ago. Top-selling categories at its namesake Wal-Mart discount stores included food, pet supplies, live plants, office supplies, and over-the-counter drugs. At its Sam's Club warehouse club division, top sellers were food, office supplies, books, jewelry, and live plants. Sam's had a 4.1 percent same-store sales increase for the month, while same-store sales were up 2.4 percent at Wal-Mart stores.
Wal-Mart said warmer weather in the second half of the month revived demand for seasonal goods, such as air conditioners, although inventory levels were still higher than it had planned. Wal-Mart expects July same-store sales to hit the high end of its forecast of a 2 percent to 4 percent increase.