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Wal-Mart August sales on track
World's biggest retailer says month's sales so far are in line with expectations.
August 12, 2002: 11:16 AM EDT

NEW YORK (CNN/Money) - Wal-Mart Stores Inc. said Monday that August sales so far are in line with company expectations of 4-to-6 percent growth, helped by sales of back-to-school items.

The world's biggest retailer said in a weekly pre-recorded announcement that back-to-school sales are running on track-to-slightly better than a year earlier, and that overall sales are getting a boost from the home video/DVD release of the "Lord of the Rings" movie as well as fabrics and crafts, office supplies, electronics, girls wear, paint, and household products.

Wal-Mart, which reports second-quarter results Tuesday, said last week that its July sales at stores open at least a year, a key gauge known as same-store sales, came in slightly below company expectations.

However, the company said Thursday that it expects to meet or exceed its previous earnings guidance of 44-to-45 cents a share for the quarter.

Wal-Mart (WMT: Research, Estimates) shares ended at $49.20 Friday, up a penny.  Top of page




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