Wal-Mart reports disappointing start to the holiday season

Wal-Mart reports disappointing start to the holiday season

It is already a known fact that the Wal-Mart site was down for ‘maintenance work’ early morning on Black Friday. The retailing giant has now said that they had a disappointing start to the holiday shopping season.

Wal-Mart is now expecting to report November same-store sales lower than their already lackluster forecast.

The company said in a statement that it expects to report a 0.1 percent decline in November sales in stores opened at least a year.

International Council of Shopping Centers itself has reported that Wal-Mart has averaged a meager 2.4 percent gain in same-store sales for the February-October period.

Wal-Mart has been quite aggressive with their discount deals in the recent days trying to lure in customers to their stores. They have announced massive discounts on medicine, consumer electronics and small appliances.