Wal-Mart Stores Inc reported May sales at US stores open at least a year toward the low end of its forecast and gave a cautious view for its June sales on Thursday, adding that shopper worries about gas prices have increased from January through April.
The world's largest retailer, which has been struggling with lacklustre sales at its US stores, also said sales in its apparel and home businesses continue to be soft. While it expects to see improvement in these categories beginning in the third quarter, it said "more significant" progress is anticipated during the fourth quarter.
For May, Wal-Mart said sales at US stores open at least a year rose 1.1 percent, excluding fuel. Including fuel, US May same-store sales rose 1.3 percent. Wal-Mart had forecast a May same-store sales gain of 1 percent to 2 percent.
Wal-Mart said May same-store sales at its namesake Wal-Mart Stores rose just 0.3 percent, excluding fuel, while Sam's Club posted a 5.4 percent rise. For June, it expects same-store sales to be between flat and 2 percent. Wal-Mart is trying to revive sales at its existing stores after its US same-store sales rose 2.1 percent last fiscal year - the smallest increase since it began reporting such figures in its fiscal year that ended in January of 1980.
It has blamed merchandising missteps, like stocking trendy clothing that its customers rejected, and store remodelling programs that disrupted shoppers, for the slowdown.
But last week, Wal-Mart, which has become the largest retailer in the world through aggressive expansion, said it would slow its supercenter store growth plans to concentrate on improving sales at its existing stores. Wal-Mart said net sales in the four weeks ended June 1 rose 7.7 percent to $28.26 billion.
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