Wal-Mart Sees 4.5% Rise in June Sales
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Wal-Mart Stores Inc. estimated that June sales rose a better-than-expected 4.5% at U.S. stores open at least a year, which would mark its biggest monthly gain in 13 months.
The world’s biggest retailer had forecast an increase of 2% to 4% in June sales at stores open at least a year, also known as same-store sales.
On a recording detailing sales through Friday, Bentonville, Ark.-based Wal-Mart said Saturday that sales of general merchandise outpaced grocery demand. That bodes well for Wal-Mart’s profit because general merchandise carries higher profit margins than groceries do.
Wal-Mart will give its final June sales figure Thursday, when most U.S. retailers release monthly sales data. If the 4.5% figure is confirmed, that would be Wal-Mart’s strongest same-store sales gain since May 2004, when it recorded a 5.9% jump.
Analysts expect retailers to report a pickup in sales for June, when warm weather revived demand for summer merchandise.
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