World's largest retailer predicts January same store sales rose 2.2 percent as shoppers redeem holiday gift cards.
Money.cnn.com February 3 2007: 10:05 AM EST
NEW YORK (Reuters) -- Wal-Mart Stores Inc. estimated on Saturday that January sales rose a stronger-than-expected 2.2 percent at its U.S. stores open at least a year, as shoppers redeemed their holiday gift cards.
Meanwhile, Wal-Mart's closest competitor, Target Corp. (Charts) said earlier this month that it expects January sales at stores open at least a year to rise between 3.5 percent to 5.5 percent. Target's December same-store sales rose 4.1 percent, while its November same-store sales increased 5.9 percent.
Wal-Mart and most other U.S. retail chains will release final January sales results on Thursday.
Edited by Rogerdodger, 04 February 2007 - 09:28 PM.
