Wal-Mart Stores Inc reported net sales for the four-week and 26-week periods ending August 3, 2007, and August 4, 2006, respectively, as follows (dollars in billions):
The Company reports net sales on a monthly basis based upon the 4-5-4 retail calendar. For earnings releases, the Company reports sales based upon the calendar months within the quarter and the fiscal year. Total net sales for the second quarter of fiscal year 2008 ended July 31, 2007 were approximately $92 billion. The Company will report quarterly earnings on August 14 before the market opens.
Wal-Mart Stores: Grocery sales were once again stronger than general merchandise sales during the four-week July sales period at the Wal-Mart segment. Perishables led the increase in grocery, with solid performance in dairy and bakery, as well as pharmacy. Electronics continued to show solid comparable store sales gains over last year, with strength in TVs, computers, digital cameras and video games.
The Company is encouraged by positive early signs in back-to-school and back-to-college categories. However, through the July four-week period, apparel and home overall continued to be soft and are expected to remain so through the third quarter.
Wal-Mart U.S. stepped up its promotional activity during the July four-week period. The stores increased their price leadership position with “rollback” and “save even more” programs on more than 16,000 products during July. The deep cuts ontop brands and food started in time for the July 4th holiday, and continued throughout the four-week period, and customers have responded well.
marketing@alchempro.com
