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Wal-Mart's Same-Store Sales Rise 7% in August, Beating Expectations

6 Sep, 2001 By: Hive News

Wal-Mart Stores Inc. on Thursday reported same-store sales increased 7% in August, above its expectations.

The company said net sales for the four weeks ended Aug. 31 increased 14.3% to $16.53 billion from $14.46 billion a year earlier.

Same-store sales rose 7.2% at the company's Wal-Mart discount stores and 6.1% at its Sam's Club warehouse unit.

Wal-Mart said in late August its same-store sales were running slightly above its prior forecast of 4% to 6%.

Wal-Mart also said that it expects same-store sales this month to rise 4% to 6%.

Wal-Mart shares closed at $49.15 in Wednesday's trade on the NYSE. In the past year, Wal-Mart stock has ranged from $41.50 to $58.75.

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