Wal-Mart, Federated Say May Sales Are on Track
Wal-Mart's outlook comes despite a weak Mother's Day.
Two retail giants said on Monday that May sales are going roughly as expected.
Wal-Mart
(WMT) - Get Report
, the world's biggest retailer, said May sales are consistent with overall same-store growth of 1% to 3%, despite Mother's Day results that were below internal projections.
Meanwhile,
Federated
(FD)
, which owns Bloomingdale's and Macy's, said trends are pointing to a May same-store sales decline of 1% to 3%. The comments come a week after the company backed its first-quarter guidance and said April same-store sales fell 1.4%.
Wal-Mart reports earnings Tuesday.
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