Wal-Mart Stores, Inc. (NYSE: WMT) continued its string of excellent results in 2008 by announcing a 5.8% same-store sales increase in June sales this morning. Wal-Mart has turned in some impressive same-store sales figures in recent months on its core strength -- the marketing and selling "low prices" to its customers.Save Money, Live Better is not just a marketing slogan for the retail giant, but a way of life it's trying to help provide to customers. After all, the more money you save on everyday items and groceries, the more you can afford that gas for the short vacation you've planned.
To achieve Wal-Mart's command over taking more customer money in a tough economy, the retailer announced that the U.S. federal tax stimulus checks were mostly responsible for the June sales upswing. In May, Wal-Mart also indicated that those checks were helping lift its sales -- so it's not the first time. Until those checks have all been distributed, it will most likely be a major beneficiary.
Following the strong sales, Wal-Mart increased its guidance for second-quarter results that ended June 30. Second-quarter earnings per share results are now expected be between $0.82 and $0.84.
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