Wal-Mart Stores Inc reported net sales for the five-week and 22-week periods ending July 6, 2007, and July 7, 2006, respectively, as follows (dollars in billions):
As in the past four months of this fiscal year, grocery sales continued to be stronger than general merchandise during the June five-week period at the Wal-Mart Stores segment. An exception was the entertainment category. Sales of flat panel televisions, MP3 players, video game hardware and accessories, laptops and desktop computers had significant year-over-year gains. Computer sales were fueled by the introduction of select Dell computers now sold at Wal-Mart stores and Sam's Clubs throughout the United States.
"Consumers continue to be challenged financially, with more pressure on discretionary spending," said Eduardo Castro-Wright, Wal-Mart Stores U.S. president and chief executive officer. "Gas prices have moved to be their chief concern in our latest survey and they appreciate the opportunity to save on everything.
"We have a single-minded focus on reducing prices on specific items throughout the year. We are committed to helping our consumers find lower prices by working with key suppliers, reducing packaging and lowering distribution costs. Clearly, Wal-Mart customers are responding," Castro-Wright added. "This is not short-term relief. We are already working on items for the fall and holiday seasons."
Softness persisted in home and apparel categories through the June period. Merchandise for school and college will begin arriving in U.S. stores this month, with lower prices to appeal to customers concerned about money and the cost of living. Customers at Wal-Mart will find revitalized "rollback" and "save even more" programs throughout the store this fall.
marketing@alchempro.com
