raised its range for expected U.S. same-store sales growth in August to 4% to 6%, saying its stores are experiencing both higher traffic and higher average purchases.
The updated guidance comes a week after the discount giant said it expected same-store sales growth to be at the high end of its old range, which was 3% to 5%.
Wal-Mart said in a recorded message that the East Coast remains its strongest regional segment, while food, electronics, men's clothes, hardware, drugs, toys and intimate wear are its best product categories. Higher traffic and higher average purchases were each responsible for about half the higher comps estimate.
Wal-Mart also said it opened 35 new stores last week and was "pleased" with their early performance.
In the current quarter ending in October, Wal-Mart is expected by analysts to earn 46 cents a share on $61.74 billion.
Wal-Mart closed at $58.40 Friday, down 79 cents, or 1.3%.