LITTLE ROCK — Wal-Mart Stores Inc. likely hit bottom in the company's second quarter that ended Aug. 31 as it struggled to revive sales in existing stores, H. Lee Scott, president and chief executive officer, said Wednesday.
"I believe that that was the low point," Scott told retail analysts gathered at the John Q. Hammons Center in Rogers. "It would certainly be our plan that that would be the low point."
The company reported sales in stores open at least a year up only 0.8 percent in that quarter. The first half of the year, he said, raised "the most significant concerns" he's had in his seven years as CEO.
For more information see today's Arkansas Democrat-Gazette.
Subscribers can read the story here on ArkansasOnline.