Wal-Mart Sees Sales Up 2.3% in May

The increase in same-store sales is at the low end of the company's 2% to 4% forecast.
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May wasn¿t so bright for Wal-Mart (WMT) - Get Report, thanks to higher fuel prices.

The world¿s largest retailer estimated Saturday that sales at stores open at least a year rose just 2.3% in May, according to media reports. That¿s at the bottom end of the company¿s forecast for 2% to 4% growth.

Wal-Mart said higher gasoline and utility prices were affecting its customers, according to

Reuters

.

Wal-Mart and other large retailers plan to report final May sales results on Thursday.

Wal-Mart shares ended the week at $49.65.