Walmart - Hungry for New Shoppers
| Brought to you buy Business WeekWal-Mart Stores (WMT) had a rough November. On Nov. 30, the world’s largest retailer reported that same-store sales declined 0.5% for the month, its first monthly sales decline in a decade. The rest of the holiday shopping season looks difficult, too—it expects December sales to rise 0% to 1%, falling short of Wall Street’s expectations for a 2% increase. The news sent the company’s stock down about 2%, to $46.10, on Nov. 30.
But there were bright spots in Wal-Mart’s report. The company racked up double-digit comparable-store sales growth in its pharmacies, as it expanded its $4 generic prescription drugs program. Perhaps even more important, it saw its effort to sell more food pay off with a 5% jump in sales, as the retailing giant offered more organic products and slashed prices. |