Business USA

Further decline in sales of Wal-Mart in the United States in Q2

CHICAGO (Reuters) – On Tuesday Wal-Mart reported a 0.9% decline in sales on a comparable basis in the United States in the second quarter, showing a ninth consecutive quarterly decline in its domestic market.

But the title of the first worldwide distributor progressed, however, more than 2% in pre-market due to earnings above expectations.

Wal-Mart posted net earnings of $ 1.09 per share, against $ 0.97 a year ago. Wal-Mart had set itself a range of 1.05 to 1.10 dollar for the period.

Off down the market value of derivatives exchange, acquisition costs and other items, earnings per share were $ 1.12 against $ 1.08 expected on average by analysts, according to Thomson Reuters I / B / E / S.

In May, Wal-Mart said its sales (excluding petrol) on a comparable basis – or stores open at least a year – the U.S. would change between -1% and 1% in the second quarter. Analysts had on average expected a decline of 0.6%, according to Reuters data.

Business performance abroad and those in the chain Sam’s Club have partially offset lower sales of the eponymous chain group in the United States, representing nearly two-thirds of total turnover.

Its activity in the United States, based on stores offering products at low cost is suffering from competition from chains offering even lower prices, the high unemployment and inflation that make consumers extremely efficient.

Wal-Mart said it had raised its forecast earnings per share over the year, now expects a range of 4.41 dollars to 4.51 dollars against 4.35 to 4.50 dollars previously.

The CEO of Wal-Mart U.S. Bill Simon aside said the group intended to achieve an increase in sales on a comparable basis by the end of the year.

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