WMT Sales Untouched by Tax Rebate
by September 17, 2001 12:00 am 63 views
The world’s largest retailer said the U.S. tax rebate has had little effect on sales.
Speaking at a Prudential Securities investor conference in Boston on Sept. 5, Don Harris, executive vice president for general merchandise for Wal-Mart Stores Inc., said the tax rebate dollars spent so far have not had an “overly significant” impact on its sales. Harris’ comments were broadcast over the Internet.
The retailer also said it backed the Thomson Financial/First Call analyst consensus earnings estimate of 33 cents a share. Third-quarter estimates ranged from 33 to 35 cents a share.
For the fourth quarter, Wal-Mart said it expects earnings of 48 to 49 cents a share.