Wal-Mart (WMT) Still Feasting on Rebate Checks: June Sales Beat Expecations

Wal-Mart (WMT) and many retailers across the country avoided a June swoon and beat June US same-store sales expectations

WMT’s sales at stores open at least one year rose 5.8% in June versus 3.8% consensus. The behemoth also raised the bar for its Q2 earnings forecast due to “improved sales results during the quarter.”

These retailers were among those that saw their June sales beat expectations:

  • Target (TGT)
  • CostCo (COST)
  • BJ’s Wholesale Club (BJ)
  • Pacific Sunwear (PSUN)
  • Chico’s (CHS)
  • Cache (CACH)
  • Stage Stores (SSI)
  • Children’s Place (PLCE)

The 3 central factors at play were:

  • tax rebates
  • summer weather
  • aggressive promotions

Too bad none of those factors are sustainable.

See Also:
Retail Outlook “Disturbing”, But GameStop (GME), Lowe’s (LOW), Others Will Prevail
Wal-Mart (WMT) Sick of Boring Logo: Loses Hyphen and Adds Exciting Sunburst


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