Richard Tafoya
May 10th, 2007, 11:16 PM
Wall Street Journal:
http://online.wsj.com/article/SB117880185064598518.html?mod=googlenews_wsj
Wal-Mart Stores Inc. posted its worst monthly same-store sales results in at least 28 years, tallying a 3.5% decline in April due to this year's early Easter as well as generally challenging economic conditions for consumers.
Wal-Mart's 3.5% drop in the four-week period ending May 4 at U.S. stores fell below its earlier forecast of "flat" sales to a 2% decline. In a recorded phone message Thursday, Wal-Mart blamed bad weather last month in most U.S. regions and the early Easter on April 8, which pushed many Easter sales into March.
Same-store sales measure sales gains or losses at stores open for at least a year. They are a key indicator of the returns a retailer reaps on the capital it spends, and thus an influence on its profitability. Most publicly traded U.S. retailers are reporting their April results Thursday.
...
For the first quarter, Wal-Mart, Bentonville, Ark., reported a preliminary sales tally of $85.4 billion. Its 3.5% decline in same-store sales was comprised of a 4.6% decline at its flagship U.S. Division -- which includes its more than 3,200 supercenters, discount stores and Neighborhood Markets -- and a 2% gain by its Sam's Club division.
Technically, Wal-Mart's 3.5% April decline ranks as Wal-Mart's worst monthly showing in the 28 years it has reported such figures, handily outpacing the previous worst 0.6% decline in April 1996. In a broader context, the result was pulled down by scheduling quirks in addition to Wal-Mart's increasing difficulty in topping its own year-ago numbers.
http://online.wsj.com/article/SB117880185064598518.html?mod=googlenews_wsj
Wal-Mart Stores Inc. posted its worst monthly same-store sales results in at least 28 years, tallying a 3.5% decline in April due to this year's early Easter as well as generally challenging economic conditions for consumers.
Wal-Mart's 3.5% drop in the four-week period ending May 4 at U.S. stores fell below its earlier forecast of "flat" sales to a 2% decline. In a recorded phone message Thursday, Wal-Mart blamed bad weather last month in most U.S. regions and the early Easter on April 8, which pushed many Easter sales into March.
Same-store sales measure sales gains or losses at stores open for at least a year. They are a key indicator of the returns a retailer reaps on the capital it spends, and thus an influence on its profitability. Most publicly traded U.S. retailers are reporting their April results Thursday.
...
For the first quarter, Wal-Mart, Bentonville, Ark., reported a preliminary sales tally of $85.4 billion. Its 3.5% decline in same-store sales was comprised of a 4.6% decline at its flagship U.S. Division -- which includes its more than 3,200 supercenters, discount stores and Neighborhood Markets -- and a 2% gain by its Sam's Club division.
Technically, Wal-Mart's 3.5% April decline ranks as Wal-Mart's worst monthly showing in the 28 years it has reported such figures, handily outpacing the previous worst 0.6% decline in April 1996. In a broader context, the result was pulled down by scheduling quirks in addition to Wal-Mart's increasing difficulty in topping its own year-ago numbers.