Wal-Mart Sales at High End of Estimate
Monday, August 1st 2005, 9:56 am
By: News On 6
BENTONVILLE, Ark. (AP) _ Wal-Mart Stores Inc. estimated that July sales will be near the high end of its estimate.
Shares of Wal-Mart rose 16 cents, or 0.3 percent, to $49.51 in morning trading Monday on the New York Stock Exchange, after the world's largest retailer said Saturday that same-store sales would be up 4.4 percent, which is at the upper end of its 3 percent to 5 percent range.
Same-store sales are sales at stores opened at least a year and are considered the best indicator of a retailer's health.
Wal-Mart said food sales were stronger than general merchandise, and sales were strongest in the Western part of the U.S. The report covers the period from July 2 through Friday, July 29.
Wal-Mart along with other leading retailers are slated to report July sales results Thursday.