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November 24, 2009

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February same-store sales rising within retailer’s forecast

Monday, Feb. 14, 2005 | 9:21 a.m.

Wal-Mart Stores Inc., the world's largest retailer, said February sales at U.S. stores open at least a year are rising within its forecast for a gain of as much as 4 percent.

The discounter has forecast a gain of 2 percent to 4 percent from the year-ago month. Bentonville, Ark.-based Wal-Mart updated results through Friday in a recorded call Saturday.

Consumers bought more food than general merchandise this week, Wal-Mart said. Sales gains have slowed from a year earlier because higher energy and food prices have prompted some shoppers to trim budgets.

Wal-Mart's February sales rose 6.2 percent last year. The price for gallon of gasoline averaged $1.91 in the week ended Feb. 7, about 17 percent higher than a year earlier, according to the Energy Department.

Wal-Mart said sales softened toward the end of the week because Valentine's Day this year falls on Monday Feb. 14, compared with a Saturday last year, though it expects sales to pick up through this weekend.

Shares of Wal-Mart fell 16 cents to $52.10 in New York Stock Exchange composite trading yesterday. They have fallen 7.5 percent in the past year, valuing the company at $220.6 billion.

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