Post-Xmas Shoppers Boost Wal-Mart December Sales

Wal-Mart Stores Inc, the world's biggest retailer and the largest seller of jewelry in the United States, today (Monday) raised its outlook for December sales at its U.S. stores open for at least a year, and now forecasts a 3 percent increase in sales.

Just last week, Wal-Mart projected same-store sales for December, the big holiday shopping month, would be in the middle of a growth range of 1-3 percent.

But with post-Christmas shopping surpassing expectations, the giant retailer raised its outlook on the first business day of the New Year.

Wal-Mart said food and general merchandise sales were strong in the week ending December 31, while gift card redemptions were higher than a year ago.

A rise of 3 percent at Wal-Mart would put it in line with a predicted increase by the International Council of Shopping Centers of a 2.5-3 percent rise for U.S. same-store sales in November-December.

On Thursday, Wal-Mart will report its final sales figure for the vital five week period of November 27 to December 31.