Total US comparable sales for the four weeks ended 24 November decreased 0.1%, the company revealed yesterday (30 November), causing analysts to predict a difficult Christmas trading period for US retailers as consumer confidence decreases and competition between the major retailers rises.
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Wal-Mart Stores US sales declined 0.5%, while Sam’s Club sales rose 2%.
Throughout November, Wal-Mart said its food and consumables sales were stronger than general merchandise. “We were disappointed in our home and apparel business, but within these areas, the basics business performed well,” the world’s largest retailer said in a pre-recorded investor phone call.
The company, which has struggled to boost waning US sales through price drops and increased promotional activity, promised more of the same in the month building up to Christmas.
”During the Christmas timeframe, customers will see three additional circulars communicating price leadership on great gift ideas to reinforce themes for last minute purchases, gift card redemption and resolutions for the New Year. Shoppers can also look forward to additional price cuts on a large selection of key gift, entertaining and holiday items throughout the Christmas and holiday season,” the retailer said.
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By GlobalDataHowever, Wal-Mart is not expecting much of a last minute rush, predicting sales growth for the December period of between 0% and 1%.
Internationally, however, the world’s largest retailer posted strong gains driven by consolidation in Seiyu and Wal-Mart Central America along with its acquisition in Southern Brazil. International sales rose 32.7%, with the factors detailed above adding 17.1% to international net sales increase in the four-week period.
