Wal-Mart Stores (WMT) Makes Additional Comments on Downward Sales Revision
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Price: $106.09 +0.16%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.2%
EPS Growth %: +3.2%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.2%
EPS Growth %: +3.2%
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Wal-Mart Stores, Inc. (NYSE: WMT) reported that the Company is updating its previous Saturday sales estimate for the September reporting period. As a result of the monthly reconciliation process that the Company undergoes to determine its comparable sales percentage, Wal-Mart is revising its U.S. comparable sales estimate for the September five-week reporting period (Saturday, Aug. 26 through Friday, Sept. 29) from 1.8% to 1.3%.
During the reconciliation process, the Company determined there were approximately 235 Wal-Mart stores and Sam's Clubs incorrectly coded for the calculation of the comparable sales estimate during the five-week reporting period. The 1.3% revised comparable sales estimate reflects the correction for these stores and clubs. Total sales were not affected.
During the reconciliation process, the Company determined there were approximately 235 Wal-Mart stores and Sam's Clubs incorrectly coded for the calculation of the comparable sales estimate during the five-week reporting period. The 1.3% revised comparable sales estimate reflects the correction for these stores and clubs. Total sales were not affected.
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