Sept. sales up 9.7% for Wal-Mart, raises outlook
BENTONVILLE, Ark. Wal-Mart Stores today reported net sales of $34.4 billion for September period ended Oct. 5, an increase of 9.7% over sales of $31.4 for the same period last year.
The company reported that comparable-store sales for September increased 1.4%, excluding fuel.
The company it expects the comparable-store sales of its U.S. operations for the October four-week reporting period to be between flat and 2 %, said Tom Schoewe, evp and cfo.
"We estimate that earnings per share from continuing operations for the third quarter of fiscal year 2008 will change from within our previously stated guidance of 62 cents to 65 cents to a range of 66 cents to 69 cents," Schoewe said. "For the first two months of the quarter, we have seen improvement in initial margin and expense leverage at the Wal-Mart Stores division, which is driving this change."