Wal-Mart, Saks Post Strong Sales

Elena
06 Sep, 2007
New York City

Wal-Mart Stores posted Thursday 3.1% increase in August same-store sales, compared with estimates of 1.5% increase. Saks said its August same-store sales jumped 18.2%, exceeding two times analyst expectations of a 9.2% increase. Among other companies posting upbeat results, Wet Seal, retailer of apparel and accessories, reported higher-than-expected 1.7% increase in August same-store sales. Analysts had anticipated 0.6% rise in comparable sales.

[R]8:00AM Retailers released August same-store sales. Wal-Mart, Saks beat expectations.[/R]

Wal-Mart Stores Inc. ((WMT)) posted 3.1% increase in August same-store sales, compared with estimates of 1.5% increase. Including the impact of fuel sales same-store sales rose 3%. Total sales climbed 9.3% to $28.22 billion. Looking ahead, the company expects U.S. September same-store sales to be between 1% and 3%.

Saks ((SKS)) said Thursday its August same-store sales jumped 18.2%, exceeding two times analyst expectations of a 9.2% increase. Total sales rose 19.9% to $213.5 million. The best performing categories for the month were women''s shoes; men''s apparel, accessories, women''s designer apparel and modern collections; and fine jewelry. Due to the retail calendar shift and promotional adjustments, the company expects to see huge same-store sales growth in September and November and below-average same-store sales growth in October and December.

Nordstrom Inc. ((JWN)) posted 6.6% increase in monthly same-store sales, ahead of the estimate of 6.3%. The department store chain reported total sales of $582.3 million, up 12.6%.

Wet Seal ((WTSLA)), retailer of apparel and accessories, reported higher-than-expected 1.7% increase in August same-store sales. Analysts had anticipated 0.6% rise in comparable sales. Total sales rose 9.6% to $56.1 million from $51.2 million. For September, Wet Seal expects same-store sales to range from down 1% to up 3%.

Limited Brands Inc. ((LTD)) posted 1% increase in its August same-store sales, coming in slightly below estimates of a 1.4% rise in comparable store sales. Total sales fell to $565.2 million from $638.8 million.

Maternity-apparel retailer Mothers Work ((MWRK)) reported 3.7% decrease of its August same-store sales, while net sales for the month rose 1.6% to $47.1 million, helped by increased sales from the company''s licensed relationship.