Wal-Mart Bests Sears as Retailers Post May Sales
Many of the nation’s big retailers on Thursday reported sluggish May sales growth and blamed unseasonable weather for discouraging shoppers. But Wal-Mart Stores bucked the trend: Its sales for the month surpassed No. 1 Sears, Roebuck & Co. and No. 2 K mart.
Wal-Mart’s sales soared 24% to $2.527 billion, passing Sears’ sales of $2.502 billion, which were up a scant 0.9%, and K mart’s, which rose 10.4% to $2.437 billion.
Wal-Mart, headquartered in Bentonville, Ark., said its comparable-store sales managed a double-digit gain, rising 11%.
Analysts say Wal-Mart could overtake its bigger rivals in terms of national sales by year-end.
Retail industry analysts said abnormally cool temperatures and heavy rainfall, particularly in the Midwest and East, restrained customers in buying summer clothing and other seasonal merchandise, such as air conditioners, lawn mowers or outdoor furniture.
“That clearly did have an impact,” said Thomas Tashjian, an analyst at Seidler Amdec Securities Inc. in Los Angeles.
Sales in stores on the West Coast, in Texas, Arizona and other parts of the Southwest were robust to respectable.
MAJOR RETAILERS’ SALES IN MAY
In millions % of dollars change Sears 2,502 +0.9 K mart 2,437 +10.4 Wal-Mart Stores 2,527 +24.0 J.C. Penney 1,023 +2.3 Dayton Hudson 958 +7.9 May Dept. Stores 725 + 9.0 Melville Corp. 583 +12.2 Woolworth* 371 +6.1 Limited Inc. 360 +16.0 Carter Hawley Hale 201 + 2.7
* Excludes foreign sales
Some top retailers do not report their sales on a monthly basis, including R. H. Macy & Co. Montgomery Ward & Co., a privately held retailer, has discontinued releasing its monthly sales.
