Wal-Mart’s June Off to a Mm, Mm Good Start

Jun 10, 2003

By George Anderson

Unusually cool weather in many parts of the US meant sales of soup and hot
chocolate were hot while air conditioners cooled on the shelf in Wal-Mart for
the beginning of June.

Wal-Mart’s company-wide sales for the week ending last Friday were almost $5
billion despite sales of fans and air conditioners being off approximately $20
million, according to a Reuters report.

The company’s Neighborhood Market format stores posted a sales increase of
11.2 percent compared with a year ago at stores open at least a year.

Wal-Mart’s SuperCenters delivered the largest sales number of Wal-Mart’s businesses
with $2.2 billion in sales. Division One store sales were $1.2 billion, Sam’s
Club $700 million and international sales were $900 million.

Moderator’s Comment: Will greater sales of low-ring
food items offset declines in high-ticket seasonal items such as air conditioners
for Wal-Mart and other broad market retailers?

Who will blink first? Watch for clearance sales if the
unusual weather continues as one or more operators get nervous about being stuck
with excess seasonal inventory.

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