Wal-Mart’s Net Sales Increase 6.5 Pct.
by January 8, 2001 12:00 am 63 views
Wal-Mart Stores Inc. recently reported a 6.5 percent increase in net sales for the five-week period ending Dec. 29.
The world’s largest retailer said net sales for the holiday period totaled $25.70 billion, an increase of 6.5 percent over last year’s $24.13 billion. Sales for the 48-week period were up as well, jumping 15.8 percent to $178.83 billion from $154.45 billion last year.
December same-store sales rose only 0.3 percent, compared to a rise of 9.1 percent last year. Same-store sales for the 48-week period rose 5 percent, compared to a rise of 7.9 percent last year.
Meanwhile, Wal-Mart said it expects fourth-quarter same-store sales for the beginning of the year to fall short of predictions due to low holiday sales and bad weather. (The company’s fourth quarter ends Jan. 31.) But Wal-Mart said earnings should still be above the 43 cents a share it earned last year.
The December sales report come a day after Wal-Mart said it would invest 450 million pounds, or $675 million, in its Asda supermarket division in the United Kingdom. The company said the investment will create about 5,000 jobs and 13 stores. Asda has 241 stores in the U.K. and more than 105,000 employees.
Wal-Mart Stores Inc. plans to open its first store in Japan as early as next year, a Japanese business newspaper reported on Jan. 1.