Thursday, Aug. 7, 2008

Wal-Mart July same-store sales rise 3 percent

BENTONVILLE, Ark. (AP) - Wal-Mart Stores says its July same-store sales rose 3 percent, slightly less than expectations, as tax-rebate checks dried up and consumers spent closer to their paycheck cycle.

The world's largest retailer says sales in stores open at least one year rose 3 percent at Wal-Mart and 3.5 percent at Sam's Club. Including fuel, same-store sales rose 1.9 percent, including a 1.3 percent rise at Wal-Mart and a 5.1 percent increase at Sam's Club.

Thomson Financial says analysts, on average, expected a 3.4 percent rise.

Total sales rose for the four weeks ended Aug. 1 rose 9 percent to $30.16 billion, boosted by a 17 percent rise in international sales.

The company expects August same-store sales will rise 1 to 2 percent excluding fuel.

2008-08-07     11:26:44 GMT

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