Wal-Mart Sales Rise 2.2%

The big retailer's January same-store sales top its own forecast for 1% to 2% growth.
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Wal-Mart (WMT) - Get Report said Saturday that same-store sales increased 2.2% in January, topping its own forecast.

The Bentonville, Ark. retailing giant had predicted 1% to 2% growth for the five week period that ended Friday.

January's increase appears to mark something of a rebound from a recent string of poor monthly same-store results. But Wal-Mart's latest fiscal year, which ended Jan. 31, is shaping up to have the lowest same-store sales increase in the 27 years the company has reported the statistic,

The Wall Street Journal

noted.

An important retail industry metric, same-store sales measure the change at stores that have been open at least one year.

Wal-Mart will release its complete January sales report Thursday, when other big retailers also plan to report monthly results. Wal-Mart also said Saturday that starting immediately, it will stop providing a preliminary monthly sales estimate on Saturdays.

Wal-Mart shares gained 30 cents Friday to finish at $48.08.