Wal-Mart Sees Lackluster November Sales
CHICAGO (Reuters) - Wal-Mart Stores Inc. (WMT), the world's largest retailer, said on Saturday it expects a 0.7 percent increase in November sales at its U.S. stores open at least one year, down from a forecast of 2 percent to 4 percent a week ago.
On a recording detailing sales through Friday, Wal-Mart sales fell below plan the past week -- typically the strongest reporting period during the Thanksgiving Day holidays -- which affected its forecast for sales in November.
The Bentonville, Arkansas-based company said customer traffic declined toward the end of the week, and that Wal-Mart had taken a more balanced approached for sales on the day after Thanksgiving.
The Southeast and West were the strongest regions for the week, Wal-Mart said. Wal-Mart's four-week November sales reporting period runs from Oct. 30 to Nov. 26.
Wal-Mart said bedding, food and pet supplies were the strongest categories. Top-selling items on Black Friday, the day after Thanksgiving Day, were digital cameras, video games, learning toys and combinations of TVs and DVDs.
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