Wal-Mart Boosts Forecasts as Sales Rise

Wal-Mart Stores Inc. raised profit forecasts after same-store sales at the world’s largest retailer increased a more-than-expected 7.9% in June, helped by purchases of air conditioners and summer clothing.

Profit in the quarter ending July 31 will be as much as 45 cents a share, or 1 cent more than estimated, Wal-Mart said. The company increased its full-year forecast by 2 cents, to $1.76 to $1.78 a share.

Bentonville, Ark.-based Wal-Mart’s shares rose 42 cents to $54.18 on the NYSE.