Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Wal-Mart Sales Near High End of Forecast
Sep 23, 2003
 Printable format
 Email this Article
 Search

Wal-Mart Stores Inc. said September sales at stores open at least a year were tracking near the high end of its 3-percent to 5-percent growth target, though about 100 stores were closed at some point last week by Hurricane Isabel.

Rival Target Corp., reporting on a recorded call after the market closed, said its same-store sales were "essentially" in line with its expectations for the week ended Sept. 20 and the month so far. Target said its sales were bolstered by stationery, holiday goods, and children's apparel.

Target has projected same-store sales growth for September of between 5 percent and 6 percent at its key namesake discount locations. The company as a whole, including its weaker performing Mervyn's and Marshall Field's department stores, is expected to come in 1.5-percent below Target stores.

Wal-Mart, the world's largest company when measured by sales, has more than 2,900 discount stores and more than 500 Sam's Club warehouse stores. Wal-Mart said it sent about 300 trailers to the hurricane area, selling or donating bottled water and other lower-margin supplies.

Sales have been strong in August and most of September, so any impact from the hurricane on the U.S. East Coast is not likely to affect Wal-Mart's earnings, said Joe Grabowski, retail analyst at Strong funds.

The latest recorded sales update included sales through Friday. The 5-week September sales period runs through Oct. 3.

Wal-Mart also said "the paycheck cycle was again pronounced," meaning sales increased as people received their mid-month paychecks. That can be a sign that household budgets remain tight in a sluggish U.S. economy. (Reuters)

Back to Daily News

 

Daily News

...........................................................

Nov 20, 2014: Report: Drop in affluents' consumer confidence may foretell signal trouble ahead for some retailers

Nov 20, 2014: Most Profitable Industry in the U.S.: Electrical Equipment, Appliance and Component Manufacturing

Nov 19, 2014: LG washing machine global sales top 20 million in 5 years

Nov 19, 2014: Wolf ovens use columnar vertical blower fans to optimize convection

Nov 19, 2014: ASRAC meeting to address home air-conditioner regional standards enforcement

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows