Wal-Mart reports sales are up
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| Thu, 03-05-2009 - 5:18pm |
Many love to hate it, but Wal-Mart does deliver tremendous value to customers. It help keep inflation in check. While many companies are reporting lower than expected sales, Wal-Mart is reporting higher than expected sales. Our economy at least has Wal-Mart and several other large box stores to help people out when they are suffering.
http://finance.yahoo.com/news/WalMart-reports-rb-14552160.html
NEW YORK (Reuters) - Wal-Mart Stores Inc (NYSE:WMT - News) reported a higher-than-expected 5.1 percent rise in February sales at U.S. stores open at least a year, saying lower gas prices meant shoppers had more money to spend in its discount stores.
Analysts on average were expecting the company's same-store sales to increase 2.4 percent, according to Thomson Reuters Estimates.
"We believe falling gas prices significantly boosted household disposable income in February and therefore allowed for both more trips and more spending toward discretionary categories," Vice Chairman Eduardo Castro-Wright said in a statement on Thursday.
The world's biggest retailer said net sales in the month ended on February 27 rose 2.8 percent to $30.02 billion.
Last month, Wal-Mart said that it would no longer provide monthly sales forecasts. Instead, it said it would give forecasts on a 13-week basis, four times a year.
For the period from January 31 through May 1, Wal-Mart said it expected U.S. comparable sales, excluding fuel, to increase between 1 percent and 3 percent.

~Many love to hate it, but Wal-Mart does deliver tremendous value to customers.