Wal-Mart Stores Inc. said its Mother's Day business lagged expectations, although last week's results were in line with its sales growth expectations for May. The company said in a recorded weekly commentary that sales for Mother's Day were "below plan."
But Wal-Mart said it expects to meet its May target of 1 to 3 percent sales growth at stores open at least one year, a key measure of retail performance. That compares with a 6.2-percent rise for May 2002. The company said sales were strongest in electronics, pets supplies, over-the-counter pharmaceuticals, and food. Weaker categories included toys, clothing, and lawn and garden merchandise. Wal-Mart?s May selling period runs from May 3 to May 30 this year. (Reuters)
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