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Wal-Mart notches holiday increase. (Retail).

Wal-Mart Stores Inc. far outpaced the retail industry during the 2001 holiday season, posting a sales increase of about 6 percent, the company said last week.

"Our original estimate for the December period was for a comparable sales increase for the total company at the lower end of the 4 to 6 percent range," a company press release stated. "Total company sales for the December reporting period are around the upper end of the range."

Retailers as a whole reported an average comparable sales increase of 2.2 percent, according to Telecheck Services Inc., a check acceptance firm.

Wal-Mart's revenue jump was led by strong performances in electronics, toys, ladies apparel and Christmas decorating merchandise, the company said. In addition, the company anticipates "minimal markdowns" as a result of improved sell-through of seasonal merchandise.

At the other end of the spectrum, Kmart Corp. of Troy, Mich., a leading Wal-Mart competitor, apparently will finish with flat sales, at best, for the season. Kmart's stock price reached a two-decade low last week after its stock was downgraded from "hold" to "sell" by Prudential analyst Wayne Hood.
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Title Annotation:Wal-Mart Stores Inc. 2001 holiday season sales increase
Comment:Wal-Mart notches holiday increase. (Retail).(Wal-Mart Stores Inc. 2001 holiday season sales increase)
Author:Whitsett, Jack
Publication:Arkansas Business
Article Type:Brief Article
Geographic Code:1USA
Date:Jan 7, 2002
Words:184
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