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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: MulhollandDrive who wrote (190714)	9/5/2002 1:18:51 PM
From: JHP	Read Replies (1) of 436258

September 5, 2002 Wal-Mart's Sales in August Lagged Expectations By REUTERS Filed at 8:08 a.m. ET BENTONVILLE, Ark. (Reuters) - Discount retailer Wal-Mart Stores Inc. (WMT.N) said on Thursday that sales at stores open at least a year rose 3.8 percent in August, below expectations. ``The consumer continues to purchase based on needs,'' the company said in a recorded review of monthly sales. Wal-Mart, the world's largest retailer, had said sales growth was running at the low end of its expected 4 percent to 6 percent forecast as apparel sales were weak due to warm weather. The company said in the recording that it expects September same-store sales growth of 4 percent to 6 percent. During August, sales of back-to-school items like supplies and backpacks were at or above plan, Wal-Mart said. Back-to-school apparel sales were soft, but inventory remains in good shape, the retailer said. Wal-Mart said net sales at all outlets in the four weeks ended on Aug. 30 rose 11.1 percent to $18.37 billion from a year earlier. Same-store sales rose 4.3 percent at Wal-Mart discount stores and increased 1.1 percent at its Sam's Club warehouse unit.

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