September Sales Up at Two Major Chains
Wal-Mart Stores Inc., the world’s largest retailer, said September sales would increase as much as 5%. J.C. Penney Co., the second-largest department-store chain in the U.S., said sales were at the low end of its forecast.
Sales at U.S. stores open at least a year remained at the high end of Wal-Mart’s forecast, a spokesman for the Bentonville, Ark.-based retailer said. J.C. Penney, based in Plano, Texas, had forecast an increase of 1% to 3% for the month ended Saturday.
Shares of Wal-Mart rose 43 cents to $57.23. J.C. Penney fell 58 cents to $21.38. Both trade on the New York Stock Exchange.
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