ADVFN - Advanced Financial Network.
HOME» NYSE » W » WMT Stock Price » WMT Stock News

Wal Mart Stores Share News

 Wal-mart Stores, Inc. Stock Price
WMT Stock Price
 Wal-mart Stores, Inc. Stock Chart
WMT Stock Chart
 Wal-mart Stores, Inc. Stock News
WMT Stock News
 Wal-mart Stores, Inc. Company Information
WMT Company Information
 Wal-mart Stores, Inc. Stock Trades
WMT Stock Trades

Asda Hits Out at Rivals as Sales Slow

By Peter Evans LONDON--Wal-Mart Stores Inc.'s (WMT) U.K. arm Asda Group Ltd. Thursday criticized its supermarket rivals for relying too heavily on promotional deals to "buy sales," as it posted a slowdown in sales growth in the second quarter. Chief Executive Andy Clarke conceded it was "still a very tough environment for customers," but said Asda would continue to outperform the market by focusing on price and quality. Asda, the U.K.'s No. 2 supermarket after Tesco PLC (TSCO.LN), reported a 0.7% increase in same-store sales excluding fuel and value-added tax in the 13 weeks to June 30, down from 2.2% in the previous quarter and equating to a 1.5% rise in first-half sales. The second-quarter figure marks a slight acceleration from the 0.5% rise a year earlier. Despite showing a slowdown from the first quarter, the increase is likely to put it ahead of its most of its U.K. rivals, which analysts expect to report flat to negative growth as first-half results are announced in the coming weeks. "We have continued to increase our sales and grow ahead of the market through a combination of lowering more prices and driving even harder on product quality," Mr. Clarke said. Finance Director Rob McWilliam said Asda wouldn't follow its peers by offering discount vouchers or wall-to-wall sales promotions as a means of attracting one-off customers. "Vouchers and promotional gimmicks are often used [by our competitors] to disguise weak price propositions," Mr. McWilliam told reporters. With more than 500 stores in the U.K., Asda represents Wal-Mart's largest market by sales outside of the U.S. Its "Every Day Low Prices" slogan has struck a chord with cash-strapped consumers during the economic downturn, leading to steady increases in market share over the past year. Latest data from Kantar, which monitors the grocery purchasing habits of U.K. households, showed Asda boosted its share of the U.K. market to 17.4% from 17.0% a year earlier in the 12 weeks to Aug. 5, above nearest rival J. Sainsbury PLC (SBRY.LN) at 16.5%. "It is Asda's strong value credentials which continue to underpin its current outperformance," said Joseph Robinson at retail analysts Conlumino. Official data released Thursday showed U.K. retail sales volumes rose 0.3% in July from June, despite feedback from retailers suggesting the Olympic Games had no impact on trade. Write to Peter Evans at peter.evans@dowjones.com Order free Annual Report for Tesco Plc Visit http://djnweurope.ar.wilink.com/?ticker=GB0008847096 or call +44 (0)208 391 6028 Order free Annual Report for Tesco Plc Visit http://djnweurope.ar.wilink.com/?ticker=US8815753020 or call +44 (0)208 391 6028 Order free Annual Report for Wal-Mart Stores, Inc. Visit http://djnweurope.ar.wilink.com/?ticker=US9311421039 or call +44 (0)208 391 6028 Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Wal Mart Stores (WMT)
DateTimeHeadline
10/07/201414:08:03Correction to Wal-Mart Health Insurance Story
09/25/201408:02:44U.S. Justice Department to Review Ohio Wal-Mart Shooting
09/22/201413:11:06Tesco Suspends Executives, Probes Accounting Error--5th Update
09/22/201408:27:22Tesco Suspends Executives, Probes Accounting Error--4th Update
09/22/201404:20:06Tesco Error Triggers New Profit Warning
09/22/201403:44:52Tesco Error Triggers New Profit Warning--Update
09/10/201420:19:12Will Stores Warm Up to Apple Pay?
09/02/201406:30:09MARKET SNAPSHOT: Why September May Slow Further S&P Records
08/27/201406:14:30Aldi, Lidl, Asda, Waitrose Market Shares Rise
08/22/201405:59:15ASIA MARKETS: Japan Stocks Pull Back After 9 Days Of Gains
08/14/201421:30:10Supervalu Investigating Potential Data Breach
08/14/201416:21:51MARKET SNAPSHOT: U.S. Stocks Rise Modestly; Berkshire Tops $200K
08/14/201411:50:23MARKET SNAPSHOT: U.S. Stocks Edge Higher; Retailers In Focus
08/14/201409:49:26MARKET SNAPSHOT: U.S. Stocks Open Higher; Wal-Mart Cuts Outlook
08/14/201409:23:21MARKET SNAPSHOT: U.S. Stocks: Futures Turn Flat After Jobless...
08/14/201408:27:51Asda 10 Week Comparable Sales +0.5%; Online Boosted by Click...
08/14/201408:11:12MARKET SNAPSHOT: U.S. Stocks: Futures Stay Up After Wal-Mart...
08/14/201406:44:38MARKET SNAPSHOT: U.S. Stocks: Futures Edge Up With Wal-Mart Results...
08/11/201415:47:19Dispute Erupts Between Amazon and Disney
08/08/201412:43:42Wal-Mart Denies China Media Report of Selling Expired Products

Wal Mart Stores and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad