Wal-Mart notches holiday increase. (Retail).
"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)|
|Article Type:||Brief Article|
|Date:||Jan 7, 2002|
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