Bentonville, Ark. Following the lead of companies like The Home Depot and Best Buy, Wal-Mart Stores will no longer release monthly sales for its stores, including its Sam’s Club division.
Eliminating monthly sales reports, which the chain has been issuing since 1979, will better align investors with the retailer’s business plan and also cut volatility caused by holiday shifts, Tom Schoewe, Wal-Mart’s CFO, said in a company statement. Instead, the company will issue forecasts for the 13 weeks that roughly track its quarterly reporting periods, and report its specific sales updates during its quarterly earnings calls.
Wal-Mart’s decision comes on the heels of its announcement earlier this year to stop publishing guidance for its monthly sales.
In the past 12 months, other retailers, including AnnTaylor Stores Corp., Chico’s FAS, Guess, Bebe Stores, Cache and Pacific Sunwear of California, have also stopped sharing monthly results.