Wal-Mart Shows Modest Sales Spike

Wal-Mart Stores Inc. said sales at stores open at least a year rose only 2.3 percent in December, as weakness at its Sam’s Club warehouse unit and a slow start to the holiday season dragged on results.

The world’s largest retailer said on a recorded call that it expects same-store sales in January to rise 2 percent to 4 percent, with a 3 percent to 5 percent gain seen at its namesake Wal-Mart stores.

Wal-Mart said inventories are higher than the company would like, but manageable.

A last-minute jump in holiday sales came too late to make up for a slow start to the season, Wal-Mart said. In 2001, Wal-Mart’s December same-store sales were up 8 percent in what Daniel Barry, an analyst with Merrill Lynch Global Securities, called the best holiday season for retailers in four decades.

Wal-Mart said said total sales in the five-week period ended Jan. 3 rose 9.5 percent from the same period a year earlier, to $31.6 billion.

Wal-Mart said on Dec. 26 that it expected same-store sales for December to be up 2 percent to 3 percent. It initially forecast a gain of 3 percent to 5 percent.

Same-store sales at Wal-Mart stores rose 3.3 percent, and total sales in December jumped 11 percent to $20.127 billion.

At Sam’s Club, same-store sales dipped by 2.3 percent. Total sales at Sam’s Club were $3.747 billion, up 2.6 percent over sales of $3.651 billion in the prior-year period.

Sam’s Club sales have trailed those at Wal-Mart in recent months as the retailer feels the pinch from a sluggish economy and competition from rivals including Costco Wholesale Corp.