Wal-Mart reports 8.9% Feb. sales increase

BENTONVILLE, Ark. Wal-Mart focused on the strength of its apparel sector, noting that “sales trends in apparel improved when compared to the last several months.” This is in contrast to the last several years when apparel's performance has been lagging.

Wal-Mart noted the weakness in its home section, citing a troubled housing market and economy as the cause.

The company reported that total company sales for the fiscal month of February were $29.2 billion, an 8.9% increase over sales of $26.8 billion for the same period last year.

Total U.S. comparable-store sales (including Sam’s Club and excluding fuel) for the four-week period were up 2.6%, as compared to an increase of just 0.9% last year. Wal-Mart Stores comps (excluding fuel) increased 2.5%, exceeding company expectations.

“We’re very pleased with the way customers responded to our merchandise offerings and the ongoing ‘save money, live better’ messaging across our U.S. stores in February,” said Eduardo Castro-Wright, Wal-Mart Stores U.S. president and ceo. “The comp sales results in our three largest businesses continued to outperform the market.”

Tom Schoewe, evp and cfo, called for March comparable-store sales (excluding fuel) to be between flat and 2%.

“With consumers increasingly concerned about their personal financial status and a higher cost of living, we will continue our commitment to price leadership across all categories,” said Schoewe.