Wal-Mart (WMT) November Sales: STRONG


The deep discounter looks to be in the sweet spot right, as Wal-Mart reported same-store sales growth ex-gas of 3.4% vs. 2.1% est. (per CNBC). The company says the month exceeded even its own internal estimates, though Vice Chairman Eduardo Castro-Wright struck the right tone in the release, saying the death of an employee on Black Friday overshadowed the good sales news.

International sales got clobbered on the strong dollar, falling 18% — they would have grown 7% on a constant currency basis.

For December, the company expects same-store sales growth of 1%-3%.

At the extreme other end of the retail business, check out the 13.3% same-store sales decline at Macy’s (M).