Walmart Q3 Sales Up Slighty; Company Q4 Outlook Remains Weak

 

Third quarter sales at Wal-Mart Stores, Inc. were up slightly as officials with the nation’s largest retailer continued to gain market share during the current recession.

Net sales for the quarter were $97.6 billion, up 1.1% from the same quarter the previous year. Company-wide comparable store sales without the impact of fuel sales grew at a modest 0.4%.

“The sales environment continued to be difficult this quarter, but customer traffic is up throughout the company,” said Mike Duke, Walmart president/CEO. “We gained market share, especially in the United States, the United Kingdom and Mexico, as customers around the globe continued to count on Walmart for quality and low prices. Few companies have the momentum or opportunity that Walmart has around the world.”

By segment, sales at Walmart stores for the quarter were up 1.2%, Sam’s Club sales were down -0.7% and International sales grew 1.6%.

Looking ahead, Walmart U.S. expects comparable store sales during the 13-week period from October 31, 2009 through January 29, 2010— which includes the holiday shopping season— to be flat, plus or minus 1%— as compared to the 2.4% comp for the same period last year.