Walmart CE forecasts higher sales in the US

Walmart should see an improvement in sales at its US discount stores in the fourth quarter as it focused anew on low prices, CE Mike Duke said yesterday.

"I expect to see positive sales results in this fourth quarter," he said at the world's largest retailer's annual meeting with analysts and investors in Rogers, Arkansas.

For five quarters running, sales have fallen at group US stores doing business for at least a year.

Duke said there were opportunities to expand internationally, especially in emerging markets such as China, Brazil and Mexico.

Walmart said last month that it was in talks to buy South Africa's Massmart in a $4-billion deal giving it a big presence in Africa.

Walmart has also been looking for a way to get into Russia.