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Wal-Mart Strength Boosts June Sales

NEW YORK CITY-Discount stores are widening the sales-results gap between themselves and other sectors of retail.

By Debra Hazel | Updated on July 11, 2008

NEW YORK CITY–June retail sales were stronger than expected, as warm weather took hold and Federal stimulus checks made their way through the system – particularly at Wal-Mart, which posted a 6.4% gain over last year.

Retail chain comparable-store sales rose 4.3% year over year, according to the International Council of Shopping Centers Retail Chain Store Index. Wal-Mart’s unexpectedly strong showing (a 5.8% increase when Sam’s Club fuel sales are excluded) itself added 2.4 percentage points to the industry gain, ICSC said.

“The tally less Wal-Mart suggested narrow breadth to the June gain,” said Michael P. Niemira, ICSC vice president, chief economist and director of research. “But pockets of strength continued, especially in wholesale clubs.”

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