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Wal-Mart's same-store sales rise in September

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[October 08, 2008]  BENTONVILLE, Ark. (AP) -- Wal-Mart Stores Inc. says hurricanes hurt its September results, causing same-store sales to miss analyst expectations.

The world's largest retailer said Wednesday that same-store sales rose 2.4 percent during the five-week period ended Oct. 3. Analysts polled by Thomson Reuters had expected a 2.5 percent rise. Including fuel, same-store sales rose 2.8 percent.

Wal-Mart said hurricanes caused 341 stores to temporarily close and hurt same-store sales -- or sales at stores open at least one year -- by 0.4 percentage point.

Total September sales rose 6 percent to $36.23 billion.

The company expects October same-store sales to rise 1 percent to 2 percent. Wal-Mart reaffirmed guidance for third-quarter earnings from continuing operations of between 73 cents and 76 cents per share; analysts expect 76 cents per share.

[Associated Press]

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.




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