Wal-Mart Estimates 2.2% Comps in December

Bentonville, Ark., Wal-Mart Stores’ latest estimate for December comparable-store sales is 2.2%—at the low end of its original estimate of 2% to 4% gain. The company said strong demand for gift cards would have the effect of pushing many sales from December into January, when gift card recipients redeem their cards for merchandise. Many analysts were expecting sales closer to 3%.