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NEW YORK - Wal-Mart Stores Inc. said it was on track to meet its June sales forecast, but it gave little indication of whether demand for summer merchandise was finally improving, reports Reuters.
On a recorded weekly update covering sales through June 20, Wal-Mart said the best-selling categories included food, girls' clothing, hardware, and plants.
Wal-Mart said it remains on track to meet its goal of a 2 percent to 4 percent increase in June sales at U.S. stores open at least a year.
The retailer did not mention categories such as air conditioners and shorts, which had not been selling well in previous weeks because of unusually cool weather across parts of the country.
Meanwhile, Target Corp. said the recent week's sales at its discount outlets open at least a year also tracked in line with its forecast of a 1 percent to 3 percent increase in June same-store sales.
The Minneapolis-based chain also reiterated its forecast for total corporate June same-store sales to be 0.5 percent to 1 percent lower than those from Target-branded stores.
The strongest-selling merchandise at Target stores in the week through June 21, according to the company, included entertainment goods, perishables and pharmacy items, while men's apparel, toys and jewelry accessories underperformed.
Analysts have been watching closely for signs of revived demand for weather-sensitive merchandise after Wal-Mart said in May its inventory levels in those categories were higher than it would like.