retail news in context, analysis with attitude

Walmart this morning said that its Q3 same-store sales dropped 0.3 percent, a result of fewer shopper visits, and it said that it anticipates lower profits during the upcoming holiday season.

Reuters reports that "Wal-Mart said comparable sales at its expanding fleet of smaller-format U.S. stores rose 3.4 percent. Overall revenue increased 1.6 percent to $115.69 billion … International sales rose 4.1 percent to $34.4 billion, excluding any currency impact.

"Same-store sales rose 1.1 percent at the company's Sam's Club chain, which has long lagged rival Costco Wholesale Corp. Analysts were expecting a gain of 1.3 percent.

"Third-quarter profit from continuing operations rose 2.8 percent to $3.73 billion, or $1.14 per share. That was 1 cent higher than analysts were expecting."
KC's View:
No wonder they're opening earlier than originally planned on Thanksgiving.