Retailers score high grades on August sales

Wal-Mart reported a much better-than-expected jump in August sales Thursday while last-minute shopping for back-to-school clothes, shoes, and other items also spurred sales at store chains catering to teens.

Wal-Mart, the world's largest retailer, said sales at its stores open at least a year, a key gauge of retail performance known as same-store sales, increased 3.1 percent last month.

The retailer had earlier forecast sales to increase 1 to 2 percent in August. Its total sales rose 9.3 percent to $28.2 billion.

For September, the company said it expects same-store sales to rise 1 to 3 percent.

Read Full Article from CNNMoney.com

- Posted: 2007-09-06 11:06:12

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