Wal-Mart (NYSE: WMT) beat Wall St. expectations for same-store sales raising optimism that the world’s largest retailer is turning around and may post strong earnings for the quarter and the year.
March same-store sales in the US rose 1.1%. Global revenue was up almost 8% to $36.97 billion. International revenue rose almost 19% to $9.47 billion.
Wal-Mart raised guidance. "Because of the Easter calendar change and its potential positive impact on the April sales period, we expect comparable store sales without fuel for the April four-week period in the United States to be between one and three percent," said Tom Schoewe, executive vice president and chief financial officer. "This guidance is slightly higher than our comparable sales guidance of the previous two months, which has been flat to two percent.
Who says that people are not looking for value pricing when the economy is doing badly.
Douglas A. McIntyre