Walmart posted 5.8 percent jump in same-store sales for June- growth the company attributed to strong sales of consumer electronics, Reuters reported this week.
The jump, which the company’s executive in charge of home entertainment attributed to strong demand for TVs, gaming consoles and other items, came despite the weak economy, as well as struggles by both major CE retailers and discount stores such as Costco and BJ’s. The executive, Gary Severson, also said Walmart has seen no move towards lower price points for electronics, when it comes to consumer demand.
What do you think of Walmart’s quarter? Talk about it in the Dealerscope forums.