Wal-Mart Stores, Inc. (NYSE:WMT) just posted same-store-sales figures for October. On an ex-fuel basis the total sales came in +0.4%, which is broken down as 0.0% at Wal-Mart Stores and +2.7% at Sam’s Club. Wall Street was expecting about 1.1% growth.
Maybe discounting too much has a price. The company also said seasonal categories related to cold weather including those in apparel, home and hardlines were soft.
We now have a preliminary revenue for the quarter. Total net sales for the third quarter of fiscal year 2008 ended October 31, 2007 were approximately $91 billion. Wal-Mart now expects the comparable store sales of its U.S. operations for the November four-week reporting period to be FLAT to +2%.
Jon C. Ogg
November 8, 2007
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