After Costco (COST) posted poor numbers for last month and almost every other large retailer in the US said that the early parts of the fourth quarter were bad and the future looked worse, there was every reason to believe that Wal-Mart (WMT) would finally give up the ghost.
Most sources show that holiday shopping in November was disastrous for the industry.
Wal-Mart has clearly gone its own way and continues to prove that location, price, and a broad array or products and services from banking to prescriptions may allow the world’s largest retailer to make it though the recession without sustaining any significant damage.
For November, Wal-Mart same-store sales beat expectations.
What was really remarkable is that the company’s international business did not carry the load last month. As a matter of fact, revenue from outside the US dropped 11% to $7.1 billion. In earlier months, international had been the star.
The core of the retailer’s strength was, ironically, its old-line Wal-Mart stores unit, which had a revenue increase for the month of 6.5% to $21.5 billion and a same-store sales improvement of 2.9%. How ofter does a company’s largest unit pick up a pace in an economic downturn.
Not often.
Douglas A. McIntyre
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.