Wal-Mart Sluggish

Wal-Mart Stores Inc. (Bentonville, Ark.) reported a 10.9 percent increase in net sales for the four-week period ending July 30, 2004. Sales for the retailer’s first two quarters of fiscal 2004 have gained 12.1 percent.

But same-store sales were up only 3.2 percent for the month and 4.6 percent for the year to date.

The Wal-Mart division’s sales were up 9.3 percent in July and are up 10.8 percent for the first two quarters. Sam’s Club sales were up 8.8 percent for the month and are up 9.7 percent for the year to date. The international division’s sales are up 17.8 percent for the month, up 18.7 percent for the 26 weeks.

Sam’s Club is outperforming its same-store sales of last July, but Wal-Mart stores’ same-store sales have slipped almost in half.

For the August four-week period, the world’s largest retailer forecasts same-store sales in the U.S. to be up in the 2 to 4 percent range.