BENTONVILLE, Ark. - Wal-Mart Stores Inc., the world's largest retailer, said Thursday same-store sales in June rose 2.4 percent excluding fuel sales, soaring past the average analyst estimate of a 0.8 percent increase.
Same-store sales, or sales at stores open at least a year, are a key measure of retailer performance, because they measure growth at existing stores rather than from newly opened ones.
Total sales for the five weeks ended July 6 rose 9.4 percent to $35.81 billion from $32.74 billion, with the namesake Wal-Mart Stores posting a 7.1 percent sales gain, to $22.94 billion.
Sales at Sam's Club rose 9.6 percent to $4.42 billion, and international sales climbed 15.9 percent during the month to $8.45 billion.
Looking ahead, the company sees July same-store sales growth of 1 to 2 percent.
The company also maintained its second-quarter earnings-per-share guidance of 75 cents to 79 cents, versus the average analyst estimate of 77 cents, based on a Thomson Financial survey.
"We remain in a challenging environment, but still believe the earnings guidance for the quarter is attainable," said Tom Schoewe, executive vice president and chief financial officer, in a statement.
The company said grocery sales were stronger than general merchandise sales in June, excepting entertainment merchandise including flat panel televisions, MP3 players, video game hardware and accessories, laptops and desktop computers, which had "significant" year-over-year gains.
Home and apparel sales remained slow, Wal-Mart said.
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