US: May sales up for Wal-Mart

Same store sales up by 4.4 per cent, beating analysts expectations.
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A strong performance in both the domestic and international markets has seen Wal-Mart beat analysts expectations for its sales in May.

The chain saw its monthly retail sales increase by 4.4 per cent, with same store performance (excluding fuel) rising by 3.9 per cent.

"The Wal-Mart US underlying business continues to be strong," said Eduardo Castro-Wright, president and CEO at Wal-Mart. "Our comparable store sales continue to increase because of our price leadership, merchandising initiatives and operational improvements."

The firm's international business also delivered a strong performance, with sales the strongest in the UK (Asda), Brazil and China.

According to internet reports, Wal-Mart is now looking at further international opportunities, including in Russia. It currently operates in 13 markets outside of the US including Japan, while it also has established a joint venture in India.

Looking forward for June, Wal-Mart is predicting comparable store sale growth of between two and four per cent for the five week period.

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