Wal-Mart post same-store sales gains

September 4, 2008 6:07:17 AM PDT
Wal-Mart Stores says sales of groceries and back-to-school products helped its August same-store sales rise 3 percent, beating expectations.

Sales in stores open at least one year, a measure known as same-store sales, rose 2.8 percent at Wal-Mart Stores and 4.2 percent at Sam's Club for the four weeks ended Aug. 29.

Analysts polled by Thomson Reuters predicted a 1.6 percent rise.

Including fuel, the world's largest retailer's total same-store sales rose 3.5 percent.

Total sales at Wal-Mart Stores Inc. rose 9 percent to $30.67 billion in the four-week period.

The Bentonville, Ark.-based company says sales of groceries, health and wellness products and flat-panel TVs sold well, as did back-to-school product such as jeans and school supplies.


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