Wal-Mart Sees U.S. Sales Rebounding

RetailFOXBusiness

Wal-Mart Stores (NYSE:WMT), the world’s largest retailer, said Wednesday it expects a run of nine consecutive quarters of declining sales at its U.S. stores open at least a year to come to an end.

Same-store sales at these core U.S. sites have been rebounding during the past three months, according to The Wall Street Journal, which cited executives who spoke at Wal-Mart’s annual meeting with analysts.

Continue Reading Below

Wal-Mart’s shares rose $1.54, or 2.8%, to $56.26 in morning trading.

Wal-Mart will release its next quarterly earnings report in November.

Wal-Mart’s U.S. president Bill Simon said U.S. sales have been on an “upward trend” since about May, and that same-store sales for the three months ending in September have been positive, the Journal reported.

U.S. consumers have been cautious with their spending in the face of a difficult labor market and declining home values that have pinched savings.

In addition to the sales forecast, Wal-Mart officials are expected to outline for analysts strategies for expanding their international sales, according to the Journal.

What do you think?

Click the button below to comment on this article.