NEW YORK (CNN/Money) -
Wal-Mart Stores Inc. reported Thursday that a key sales measure showed a slight increase in May, far weaker than year-earlier growth but in line with the company's guidance.
Sales at the retailer's stores open at least a year, a closely watched retail measure known as same-store sales, were up 2.1 percent, compared with a 6.2 percent rise a year earlier. The company had said throughout the month it expected same-store sales to be up 1 to 3 percent.
The company said it expects same-store sales will be up between 2 and 4 percent for the five-week June sales period.
Overall sales in the four-week period ended May 30 gained 10 percent to $18.95 billion at the world's largest retailer, excluding results for a division the company sold during the month. Including that division, overall sales climbed 9.4 percent. The company is set to hold its annual shareholders' meeting Friday.
Shares of Wal-Mart, a component of the Dow Jones industrial average, gained $1.01 to $53.86 Wednesday.
|