Wal-Mart Backs June Sales Target

The company sees same-store sales rising at the low end of a 4%-6% range.
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repeated its forecast Monday that June same-store sales should rise at the low end of a 4% to 6% range.

The company first made the estimate when releasing its May same-store sales last week. In comparison, U.S. same-store sales in June 2003 rose 2.7%.

In the week ended June 4, the company said its strongest categories were automotive, food, lawn care, toys and sporting goods. The East, Northeast and Southeast were the strongest regions in the week.

The company also said traffic and average ticket were positive, and each made up half of the week's same-store sales increase.

The Bentonville, Ark.-based world's largest retailer by revenue will release sales for the four weeks ended July 2 on July 8.

Shares of Wal-Mart closed at $56.59 Friday on the

New York Stock Exchange