(Filed Under Financial and General Interest News). Wal-Mart Stores, Inc, saw a sales increase at a time when most retailers are posting lower sales. An increase was registered for both their four- and 43-week periods, ended November 28th and November 30th, respectively.
The strengthening of the U.S. dollar against most currencies in the four-week period, compared to the same period last year, reduced Wal-Mart International's reported U.S. dollar sales by 18.7 percentage points.
As for Walmart U.S., the company saw net sales increase by 6.5 percent from $20.165 billion in the four-week period ended November 30, 2007 to $21.477 billion for the same period in 2008. For the 43-week period, net sales were up 6.6 percent from $192.347 billion in 2007 to $204.962 billion in 2008.
The company attributes the increase to "aggressive rollback initiatives [which] helped kick off solid sales for the month, with Thanksgiving helping to drive record grocery sales." As stated by Eduardo Castro-Wright, vice chairman of Wal-Mart Stores "even in a tighter economy, consumers want to celebrate the holidays with their families. They recognize that Walmart is the best destination to help them save money."
Wal-Mart Stores, Inc. operates Walmart discount stores, supercenters, Neighborhood Markest and Sam's Club locations in the U.S. The company operates in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and the United Kingdom and, through a joint venture, in India. Today, 7,390 Wal-Mart stores and Sam's Club locations in 14 markets employ more than 2 million associates.
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