International News - Wal-Mart back on track to hit sales targets

Wal-Mart expects to hit its sales growth targets for January on the back of strong sales during the past week.

The world's biggest retailer said earlier this month that it expected like-for-like sales in the five Christmas trading weeks to be below expectations, but it appears that the store group has bounced back in the New Year.

Wal-Mart sales for January are on track to hit the 3 to 5 per cent like-for-like targets that have been set for its Wal-Mart fascias and 2 to 4 per cent growth for its entire stable, including the Sam's Club chain.

Electricals, menswear, hardware and food all generated strong sales in the past week.

Also in the past week, Wal-Mart has opened seven Neighbourhood Market stores in Texas, Alabama, Florida and Utah.