Wal-Mart Stores Inc. said Monday its October sales at U.S. stores open at least a year were on pace to meet its forecast for a 3 percent to 5 percent gain, although warmer weather crimped demand for fall merchandise.
On a recorded weekly update covering sales through Oct. 10, Wal-Mart said the first week in the October sales period started strong, but sales slowed toward the end of last week as the weather warmed in the U.S. East and Midwest.
Wal-Mart, the world’s biggest company by revenue, said last week that September’s sales were stronger than expected because of unseasonably cool weather that drove demand for coats and other cold-weather gear. However, the retailer cautioned that the early arrival of cooler weather would likely siphon off some demand from October.
Last year, Wal-Mart recorded a 3.7 percent increase in October same-store sales.
Wal-Mart said Halloween sales were on track so far, but noted that it was still early in the selling season. The retailer also said its holiday season toy aisles were set, and initial sales were good.