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News > Companies
Wal-Mart sales surge
October 6, 1998: 9:07 a.m. ET

Discount retailer posts 9.5% sales gain, will open 270 new stores
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NEW YORK (CNNfn) - Discount retailer Wal-Mart Stores Inc. Tuesday posted a 9.5 percent jump in same-store sales last month and said it will open another 270 or so stores this year as part of its aggressive growth strategy.
     Wal-Mart Stores (WMT), the nation's largest retailer, reported overall net sales for the five- week period ended Oct. 2 of $12.4 billion, up more than 15 percent from sales of $10.7 billion in the same period last year.
     Sales for the 35-week period were $86.5 billion, an increase of 17.3 percent from year-ago results of $73.8 billion.
     In addition to the flagship Wal-Mart stores, the company operates the Sam's Club chain of office-supply warehouses.
     Sam's Clubs sales for the September period were $2.1 billion, up 12.8 percent from sales of $1.6 billion a year ago. Sales for the 35- week period were up better than 10 percent.
     Wal-Mart also said Tuesday it will open approximately 40 new discount stores and 150 new Supercenters in the U.S. Another 75 to 80 new retail units will be opened internationally in Argentina, Brazil, Canada, China, Korea, Mexico and Puerto Rico. The new units in Mexico will include restaurants, department stores and supermarkets.
     Moreover, Wal-Mart plans to open another 10 to 15 Sam's Club stores, including six relocations.
     Shares of Wal-Mart Stores (WMT) were up 1-13/16 Monday at 57-1/4 on the New York Stock Exchange. Back to top

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.