July 19, 2004

Holding to the Forecast

It's back to school in July for Wal-Mart.

Wal-Mart Stores Inc. maintained its July sales forecast Monday, saying the vital back-to-school shopping season was off to a good start.

On a recorded message updating sales through July 16, the world's biggest retailer said it still expects a 2 percent to 4 percent gain in July sales at its U.S. stores open at least a year.

Bentonville, Ark.-based Wal-Mart listed food, paper goods and pet supplies among the best-selling categories last week, and said price inflation was largely responsible for boosting its sales tally in paper goods.

That is, the quantity of goods sold did not have to increase much for sales to increase, if prices were up a few percent over previous years.

Posted by Kevin on July, 19 2004 at 09:20 AM