Walmart to refocus on U.S. unit as sales decline
BENTONVILLE, Ark. — Despite gains in its international sector, Walmart experienced its seventh straight quarterly sales decline in its U.S. stores division for the period ended Jan. 31.
Walmart said although sales at its international stores rose 27%, its U.S. store sales fell short of its own projections for the holiday period. Sales at U.S. Walmart stores fell 0.5% to $71.1 billion, and were down 1.8% on a comparable-store basis, the company said.
Looking ahead, Walmart said it plans to focus on everyday low prices, feature the broadest assortment possible, remodel Walmart stores and focus on multichannel selling to boost U.S. sales. Walmart president and CEO Mike Duke also noted the chain would move forward "with even greater urgency in opening small stores."
"Some of the pricing and merchandising issues in Walmart ran deeper than we initially expected, and they require a response that will take time to see results," Duke said.