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Walmart warns of flat festive sales
RETAILER NEWS
Fin24 - Nov 18th, 10:53
Washington - Walmart reported on Thursday a 2.8% year-on-year rise in third-quarter net profit, but warned that sales during the crucial holiday shopping season are expected to be "relatively flat."
Sales in the three-month period from August to October rose to $3.73bn.
However, the world's biggest retailer reported that comparable sales at stores open at least one year declined 0.3% owing to "competitive" retail environment, both in stores and online. The same-store comparison also fell 0.3% in the second quarter.
For the 14-week period ending January 2014 - a make-or-break time for retailers - Walmart expects like-for-like sales to be flat.From Fin24.com
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