A shopper looks at flat panel televisions at a Wal-Mart Supercenter store in Maumelle, Ark., Tuesday, April 29, 2008. The Commerce Department reported Thursday, May 1, 2008, that consumer spending, once inflation was removed, was up 0.1 percent in March.
(AP Photo/Danny Johnston)
Wal-Mart same-store sales top Wall Street expectations
A shopper looks at flat panel televisions at a Wal-Mart Supercenter store in Maumelle, Ark., Tuesday, April 29, 2008. The Commerce Department reported Thursday, May 1, 2008, that consumer spending, once inflation was removed, was up 0.1 percent in March.
(AP Photo/Danny Johnston)
BENTONVILLE, Ark.—Wal-Mart Stores Inc. says sales of groceries and items such as flat-screen TVs boosted its same-store sales in April above Wall Street expectations.
The world's largest retailer said same-store sales rose 3.2 percent, easily beating Wall Street's 2.1 percent growth forecast. Including fuel, same-store sales climbed 3.8 percent.
The sales figure, which counts only stores open at least one year, is considered a key measure of a retailer's fiscal health.
Same-store sales rose 2.6 percent at namesake Wal-Mart stores and 6.6 percent at Sam's Club, excluding fuel.
Total sales for the four weeks ended May 2 rose 10 percent to $29.18 billion.
The Bentonville, Ark.-based company says it expects May sales growth by the same measure, excluding fuel, to be flat to up to 2 percent.
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AP Business Writer Mae Anderson
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