Wal-Mart Surges After Sales Growth Hits Post-Recession High
- Shares touch record high after company boosts profit forecast
- Food, online sales helped fuel same-store sales in the U.S.
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Wal-Mart Stores Inc. soared to an all-time high after delivering its strongest U.S. sales gain in more than eight years, helping the retailer keep pace with rival Amazon.com Inc. as the crucial holiday season begins.
Comparable sales at domestic Wal-Mart stores grew 2.7 percent in the third quarter, the company said on Thursday, beating the increase projected by analysts. It also boosted its earnings forecast for the full year, sending the shares on their biggest rally in more than nine years.