After much speculation about a poor month for Wal-Mart Stores (Bentonville, Ark.), the world's largest retailer reported that net sales grew 11.1 percent in August 2002.
However, same-store sales were up only 3.8 percent for the month,. A year ago, just prior to the economic slump that overtook almost all retailers in the wake of the September 11 attacks, the retailer posted a 7 percent same-store sales gain for August.
The Wal-Mart division showed an equally mediocre 4.3 percent August same-store sales gain, though for the year to date its same-store sales are up 7.3 percent. (After 30 weeks a year ago, same-store sales were up only 5.4 percent.)
Sam's Club, continuing to founder, posted a 1.1 percent same-store sales gain for August, and is up only 4.1 percent for the year.