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August 19, 2017

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Wal-Mart predicts sales to soar on boost from new stores, e-commerce

Wal-Mart Stores Inc. expects sales to grow throughout this year and next, as the world's largest retailer keeps enticing shoppers, especially those on limited budgets, with smaller new stores, ecommerce and lower prices.

Wal-Mart also said on Wednesday that it plans to add roughly the same amount of store space in fiscal 2014 as it has planned for fiscal 2013, and will still open more supercenters than smaller stores in the United States, its largest market.

The retailer also touted strong sales at U.S. grocery stores and a big start to holiday layaway sales, Its shares close 1.7 percent higher at US$75.42 after jumping to an all-time high of US$76.81 during the annual meeting with analysts and investors.

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