Weak November for Wal-Mart
Chicago, Wal-Mart Stores Inc. predicted a rare decline in monthly sales on Saturday, even as shoppers crowded stores on Black Friday. Wal-Mart estimated that November comp-store sales fell 0.1% at its U.S. stores open at least a year, marking the company’s first monthly comp-store sales decline since April 1996.
The retailer will provide a final monthly sales report, including details of Black Friday sales, on Thursday. Wal-Mart had expected comp-store sales to be flat compared with the same period last year, which many Wall Street analysts had viewed as disappointing. Wal-Mart’s four-week November sales period ended on Friday.
CSK Auto Sales Up in 3Q
Chicago, CSK Auto Corp. said on Monday sales rose about 16% in its fiscal third quarter mainly on acquisitions, and that it would further delay filing formal results due to ongoing financial restatements. Sales rose 16% to $473.8 million in its third quarter ended Oct. 29, mainly due to the acquisition of Murray’s Discount Auto Stores in December 2005.
CSK Auto said in September that two top executives and several finance staff had left the retailer following an investigation of accounting errors and improprieties that will result in various restatements dating to 2001.
Couche-Tard Profit Up 35%
Toronto, Couche-Tard Inc. said profit in its second quarter ended Oct. 15 rose 35% on more profitable gasoline sales. Net income climbed to $74.7 million, from $55.5 million a year earlier. Sales for the three months rose 15% to $2.76 billion from $2.39 billion.
The company, which gets more than 60% of sales from gasoline, last month agreed to acquire 236 stations and stores in the United States from Shell Oil Co., giving it about 5,205 outlets in the United States and Canada.