Wal-Mart December Same Store Sales Rise 3%

Wal-Mart Stores Inc, the largest retailer in the world and the biggest seller of jewelry in the U.S., reports a 3 percent rise in sales at its U.S. stores open at least a year in December, the big holiday shopping month, which was at the top end of its forecast range.

The announcement confirmed a statement from the retail giant on Monday that it expected December same-store sales to rise 3 percent, boosted by stronger-than-expected post-Christmas sales, after previously forecasting sales rising 1-3 percent.

Net sales in the five weeks ending December 31 rose 13.4 percent from a year earlier to $38.42 billion.

Analysts, on average, had been expecting it to post a 2.2 percent same-store sales increase for the month.

Sales in the east and southeast were the strongest regionally, and food sales of were more vigorous than those of general merchandise.

Meanwhile, international sales were strongest in Argentina, Brazil, Mexico and Puerto Rico. International sales rose 21.3 percent to $7.9 billion.