US retail titan Wal-Mart has said June same-store sales may come in around the low end of its forecast.
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Although the company did not change its forecast of a 4-6% increase in June same-store sales, analysts said the wording of the company’s sales update indicated sales growth could fall slightly below the forecast range, reported Reuters.
Wal-Mart said sales slowed over the weekend of 12-13 June but increased later in the week ahead of Father’s Day. The company also said higher fuel prices could be denting grocery spending.
