were disappointing last week, but the company left projections for April and the first quarter intact.
The company, based in Bentonville, Ark., said sales last week were at the low end of expectations because of bad weather, but stuck to its target of a low- to mid-single-digit percentage increase in same-store sales, which measure activity in shops open at least a year, for April. Wal-Mart, which is scheduled to report earnings May 15, also said it expects first-quarter same-store sales growth in the upper end of the 5% to 7% target range.
Shares were up lately 78 cents at $56.58.
Also Monday, department store chain
said comparable-store sales were tracking ahead of plan. The company, based in Plano, Texas, had been projecting department store same-store sales to be flat or up in the low-single-digit range, but now expects a rise in the mid-single-digits, the company said in a recorded call Monday. Men's apparel, home furnishings and shoes have been particularly strong categories, the company said.
The company's catalog division is on track for a decline in the 20% range, while sales at the company's Eckerd drugstore chain will rise in the mid-single digit percentagewise. Shares were up 48 cents at $21.94.
Both Wal-Mart and J.C. Penney will report monthly sales on May 9, along with most of the nation's largest retailers.