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
04/23/201513:12:01Changing Customer Habits Leave Supermarkets With Property Dilemma
04/23/201510:56:23Procter & Gamble Co. Earnings: What Dividend Investors Need to...
04/22/201520:59:19Wal-Mart Tied Executives' Cash Bonus to Sales and Operating Income...
04/22/201520:10:05Wal-Mart Stores Downgraded to Hold at Vetr Inc. (WMT)
04/22/201519:05:03McDonald's Corporation Looks More Like This Failing Retailer...
04/22/201518:42:51Wal-Mart CEO'S Compensation Fell 24% in Past Year -- Update
04/22/201518:05:02How to Make a Portfolio of Retailers
04/22/201517:50:22Wal-Mart CEO's Compensation Fell 24% in Past Year
04/22/201517:46:43Wal-Mart CEO'S Compensation Fell 24% in Past Year
04/22/201516:56:00Walmart Releases 2015 Annual Shareholdersâ Meeting Materials
04/22/201516:38:40Additional Proxy Soliciting Materials (definitive) (defa14a)
04/22/201516:37:49Additional Proxy Soliciting Materials (definitive) (defa14a)
04/22/201516:36:55Additional Proxy Soliciting Materials (definitive) (defa14a)
04/22/201516:34:22Proxy Statement (definitive) (def 14a)
04/22/201511:30:00Samâs Club to Offer LifeLock® Identity Theft Protection
04/22/201511:00:00Web.com to Offer a Discounted Suite of Online Marketing Services...
04/22/201511:00:00First Data and Samâs Club Collaborate to Fuel Small Business G...
04/22/201511:00:00More for the Member: Samâs Club Adds Five New Services to Redefine V...
04/21/201518:20:16Yum Brands Results Weighed Down by China
04/21/201517:49:35Wal-Mart's Mexican Unit Sees 1Q Boost in Profit, Sales -- Update

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