Wal-Mart March Sales Up Sluggish 1.3%

The world's largest retailer says the late Easter this year is to blame for the weak same-store number.
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Wal-Mart (WMT) - Get Report said same-store sales increased a sluggish 1.3% in March.

The increase came in at the low end of Wal-Mart¿s expectations for a 1% to 3% gain. It¿s the Bentonville, Ark.-based retailer¿s lowest monthly same-store sales increase since April 2004,

The Wall Street Journal

noted.

Wal-Mart , the world¿s largest retailer, had been cautioning that March could be weak, because Easter falls in April this year, leaving retailers without a big March holiday or event around which to schedule promotions.

¿We expected a weaker March and anticipate a stronger April,¿ Wal-Mart said on its Web site.

Wal-Mart will release its full March report Thursday; other retailers are also expected to report monthly results that day.

Wal-Mart shares finished the week at $47.24.