(AFX-Focus) 2002-12-26 14:10 GMT: Wal-Mart cuts Dec same-stores guidance to up 2-3 pct vs prior up 3-5 pct
NEW YORK (AFX) - Wal-Mart Stores Inc said it is cutting its Dec same-stores
sales guidance to growth of 2-3 pct from a previous forecast of 3-5 pct after an
increase in sales in the days just before Christmas failed to make up for a
slump earlier in the month.
"Sales accelerated through the weekend and into Christmas Eve with two of those
days (generating) sales of over 1 bln usd but the increase was too little and
too late for us to reach our sales plan," Wal-Mart said in a recorded sales
update.
The strongest categories were electronics, seasonal, jewellery, cosmetics and
toys, the company said. The weakest were mens and boys apparel and small
appliances.
Internationally, sales were strongest in the UK, Argentina and Brazil.
