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Wal-Mart reports 2.3 percent gain in May

Wal-Mart Stores, Inc., the world's largest retailer, reported a 2.3 percent gain for the May reporting period at stores open at least a year.
/ Source: The Associated Press

Wal-Mart Stores, Inc., the world's largest retailer, reported a 2.3 percent gain for the May reporting period at stores open at least a year.

Wal-Mart said higher gas and utility prices continue to affect customers, and paycheck cycles have been more pronounced. The reporting period was from April 29 to May 26.

Bentonville-based Wal-Mart, along with other major retail rivals such as Target Corp., Costco Wholesale Corp. and J.C. Penney Co., plan to release full information about April sales on Thursday.