Wal-Mart posts 1.4% rise in March same-store sales
06 Apr '06
2 min read
Wal-Mart Stores Inc, the world's largest retailer, has reported net sales for the five-week and nine-week periods ending March 31st 2006 and April 1st 2005.
Same-store sales or sales at stores open more than one year, rose 1.4 percent, the smallest gain in almost a year. Same-store sales figures for Sam's Club exclude fuel sales. Including those sales, Sam's Club posted a comparable sales gain of 4.8 percent.
Total sales for the month increased 9.4 percent to $30.6 billion, as international sale benefited from the consolidation of Seiyu and Wal-Mart Central America and an acquisition in Southern Brazil and Wal-Mart and Sam's Club locations each posted better than 6 percent gains.
During the five-week and nine-week period, Wal-Mart Stores Inc added more than $2.6 billion and $5.3 billion in sales, respectively.
"With Easter being three weeks later this year than 2005, we expected weaker sales in March," said Tom Schoewe, Wal-Mart Stores Inc Executive VP and Chief Financial Officer. "We anticipate the April four-week period to be stronger, with comp sales of 4 to 6 percent."
Schoewe said he was pleased with the customer response to the company's new offerings in the home area, which focuses on "solutions" that help a customer address rooms and lifestyles.
"Wal-Mart has improved the quality and design of many of its products, including bedding, bath, furniture and items for entertaining," explained Schoewe.
Response to the Metro 7 line of women's apparel continues to exceed the company's expectations, according to Schoewe. Metro 7 apparel is expected to expand to 1,500 stores by September 1.
marketing@alchempro.com
