Wal-Mart reports better-than expected post-Thanksgiving sales
Wal-Mart Stores Inc.‘s deep discounting and expanded hours on Friday, the start of the holiday shopping season, appeared to have paid off.
The world’s largest retailer said Saturday that it expects to post a solid 4.3 percent gain in same-store sales for November, helped by better-than expected sales during the post-Thanksgiving day shopping rush. That’s at the midpoint of its growth forecast of 3 to 5 percent. The sales results cover the four-week period through Friday.
Same-store sales are sales at stores opened at least a year and are considered the best indicator of a retailer’s health.
Wal-Mart and with the nation’s other major retailers are to report final November sales results on Thursday.
Source: The Examiner.
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