Wal-Mart sales miss estimates; Target tops forecasts
Wal-Mart Stores Inc reported quarterly sales below analysts' expectations on Thursday, while sales at established U.S. discount stores trailed Wall Street estimates and traffic fell in China. The company also saw sales in Japan sag as the economy weakened. "Across all of our markets, we are seeing the same price consciousness as we do in the United States," Chief Executive Mike Duke said in a statement. Wal-Mart rival Target Corp's quarterly profit beat Wall Street forecasts as the discount chain lured shoppers with a wider variety of food products and 5 percent discounts for its cardholders. Target said it had earned $637 million, or 96 cents per share, in the third quarter ended on October 27, up from $555 million, or 82 cents a share, a year earlier.
Keywords:
sales Wall Street same-store sales 5 percent Thomson Reuters Wal-Mart shoppers credit cards United States Wal-Mart Stores discount discount stores Target Corp forecast quarterly Gross margin Mike Duke company debit and credit food products Walmart holiday season a share the quarter prices layaway lured deceleration fluctuations wider expenses consciousness next year currency buying cash retailer Japan customers chain Planet markets electronics strategy China report recent merchandise rates globalPeople:
Mike Duke
Overall Sentiment: -0.0133608
Relevance: 0.375854
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| 0 | "Across all of our markets, we are seeing the same price consciousness as we do in the United States," Chief Executive Mike Duke said ... |
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Natalie Berg
Overall Sentiment: 0
Relevance: 0.323912
| Sentiment | Quote |
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| -0.026177 | "The slight deceleration in growth reflects the underlying pressures facing U.S. consumers," said Natalie Berg, ... |
| 0.110113 | "The slight deceleration in growth reflects the underlying pressures facing U.S. consumers," said Natalie Berg, director of global research at Planet Retail. "Having made significant improvements to price perception, Walmart today is actually well placed to cater to budget-conscious shoppers. But at the end of the day, consumers are still very wary about parting with their hard-earned cash." |
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Key:
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Additional Info:
Country: United States
Overall Sentiment: 0.0144988
Relevance: 0.668938
Disambiguation: Location | Region | AdministrativeDivision | GovernmentalJurisdiction | FilmEditorReferences:
Country: Japan
Overall Sentiment: -0.344186
Relevance: 0.378211
Disambiguation: Location | GovernmentalJurisdiction | Kingdom | MilitaryPostReferences:
Country: China
Overall Sentiment: -0.0135844
Relevance: 0.353543
Disambiguation: References:
Country: Canada
Overall Sentiment: 0.0101506
Relevance: 0.334204
Disambiguation: Location | GovernmentalJurisdiction | Kingdom | AwardDiscipline | FilmScreeningVenueReferences:
FieldTerminology: food products
Overall Sentiment: 0.0204418
Relevance: 0.318943
FieldTerminology: food and electronics
Overall Sentiment: -0.34671
Relevance: 0.315149
Company: Wal-Mart
Overall Sentiment: 0.153504
Relevance: 0.737605
Disambiguation: References:
Company: Target Corp
Overall Sentiment: 0.0284627
Relevance: 0.719738
Company: Thomson Reuters
Overall Sentiment: 0.0737181
Relevance: 0.559535
Company: Wal-Mart Stores Inc
Overall Sentiment: 0
Relevance: 0.55723
Company: Reuters
Overall Sentiment: 0
Relevance: 0.398903
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Wal-Mart sales miss estimates; Target tops forecasts
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Wal-Mart Stores Inc reported quarterly sales below analysts' expectations on Thursday, while sales at established U.S. discount stores trailed Wall Street estimates and traffic fell in China.
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