Wal-Mart reports strong October sales (updated with Dillard’s results)

Updated info:

Little Rock-based Dillard’s Department Stores continues to suffer declining sales. The company announced today that sales for the four weeks ended Nov. 1 were $406 million compared to sales for the four weeks ended Nov. 3, 2007 of $444.6 million. Total sales decreased 9 percent. Sales in comparable stores decreased 8 percent for the four-week period.

Sales for the 39 weeks ended Nov. 1 were $4.76 billion compared to sales for the 39 weeks ended Nov. 3, 2007 of $5.04 billion. Sales decreased 6 percent in both total and comparable stores for the 39-week period.

Wal-Mart Stores

Wal-Mart Stores Inc. reported early Thursday that its October sales in U.S. Wal-Mart stores was $18.36 billion, up 5.3 percent over October 2007. It’s Sam’s Club October sales were $3.44 billion, up 4.5 percent.

Domestic and international sales in October were $28.56 billion, up 2.3 percent.

Ironically, the strength of the U.S. dollar lowered the company’s reported international sales. Without the foreign rate exchange, Wal-Mart’s international sales grew 8.9 percent in October. When those sales are converted to U.S. dollars, the value of the international sales fell 5.9 percent.

For the first 10 months of the year, Wal-Mart sales total $291.93 billion, up 8.3 percent over the same period in 2007.

“The company expects U.S. comparable store sales for the four-week November period to be between one and three percent,” said Tom Schoewe, executive vice president and chief financial officer. “Our underlying business in the United States and around the world remains strong. While there remain some uncertainties with the global economy, we believe falling gas prices could help customers as we enter this holiday season.”

Wal-Mart, hoping to capture the holiday sales dollar, also announced Thursday morning price cuts estimated to reduce customer costs by $200 million during the next seven weeks.