Wal-Mart, Target sales soft in April
By Brent Felgner -- Playthings, 5/10/2007 7:36:00 AM
NEW YORK—Same-store sales fell in April for the nation’s No. 1 and No. 3 toy retailers. Wal-Mart reported a decline of 3.5 percent in stores open at least a year, while Target reported a comp store decline of 6.1 percent.
Wal-Mart said sales for the month were negatively impacted by weather conditions throughout most of the United States. At the same time, an earlier Easter drove some sales into the March reporting period, the company said. Target said a “sales shortfall” during the first two weeks of the month was responsible for the decline.
Toys ‘R’ Us, the nation’s No. 2 toy retailer, does not report monthly sales.
Net sales at Wal-Mart Stores, the nation’s largest toy seller, rose 3.7 percent companywide, coming in at $26.568 billion for the four-week period ending May 5. But sales at the U.S. stores division, the retailer’s largest, rose 0.4 percent overall to $16.870 billion. Same store sales fell 3.5 percent companywide and dropped 4.6 percent in the U.S. stores division. Grocery continued to perform better than general merchandise, the company said.
At Target, net sales decreased 1.8 percent for the four weeks, to $3.903 billion.
“The continued strength of our first quarter financial results in both our core retail and credit card operations gives us confidence that we remain on track to achieve our overall financial expectations in 2007,” said Bob Ulrich, Target’s chairman and CEO.
In Wal-Mart’s monthly national survey among discount store consumers, concern over rising gas prices has increased steadily since January and ranked among the three top worries, which included money, income and finances, as well as the cost of living.
Factoring out fuel sales, May comp store sales increased 2.5 percent at Sam’s Club, 4 percent overall. The International division reported an overall net sales increase of 13 percent for the month.
Wal-Mart said it expects comparable store sales for May to increase 1 to 2 percent.
| Net Sales (in millions) | Change | SSS Change | |
| Wal-Mart Stores Inc |
$26,568 | 3.7% | -3.5% |
| U.S. Stores | $16,870 | 0.4% | -4.6% |
| Target Stores | $ 3,903 | -1.8% | -6.1% |
Source: Company-supplied reports
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