Advertise with

Walmart warns of flat festive sales
Walmart warns of flat festive sales

Walmart warns of flat festive sales


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 

Related News

Target profit falls 46% on Canadian costs; trims full-year forecast
22/11/2013 - 10:20
Minneapolis -- Target Corp.'s third-quarter net income fell 47%, hurt by costs related to its Canadian expansion. Its adjusted profit beat analysts' estimates, but sales fell short. The retailer lowered its full-year adjusted earnings forecast.

Kenyan retailers eye festive season
20/11/2013 - 11:43
Kenya's top three retail chains, Nakumatt, Tuskys and Uchumi are set to open new stores in strategic locations across the country in time for the December festive season's shopping boom. - See more at:

Macy’s Herald Square’s unveils revamped beauty department
18/11/2013 - 09:51
New York -- Macy’s Herald Square store has taken the wraps off a dramatic makeover of its beauty and fragrances department. Re-fashioned within a brand-new 24,000-sq.-ft. space, the new department includes brand new counters, shops and bars for brows, blow-outs and nails.

SA retail sales growth at 0.2%
14/11/2013 - 11:07
Johannesburg - Retail sales grew at a sluggish 0.2% in September compared with the same month last year, after expanding by a revised 3.2% in August, Statistics South Africa said on Wednesday.

Mr Price earnings jump 22%
13/11/2013 - 14:36
Johannesburg - Retailer Mr Price on Tuesday posted interim earnings growth of 22% because of sales growth and said it plans to open over 40 stores in the second half of the year.