May Comps at Wal-Mart climb 5.9%

Wal-Mart Stores net sales for the four-week period ending May 28, 2004, were $21.425 billion, an increase of 12.8% over the $18.987 billion in the same four-week period in the prior year. Sales for the seventeen-week period were $87.483 billion, an increase of 13.2% over $77.259 billion in the similar period in the prior year.

The Wal-Mart division's sales for the four-week period were $14.388 billion, up 11.7 percent over sales of $12.886 billion in the same four-week period in the prior year. The division's sales for the seventeen weeks of $58.718 billion were up 11.9 percent over $52.479 billion in the similar prior-year period.

SAM'S CLUB sales for the four-week period were $2.935 billion, up 12.9 percent over sales of $2.599 billion in the same four-week period in the prior year. Club sales for the seventeen weeks of $11.734 billion were up 10.5 percent over the $10.615 billion in the similar prior-year period.

The International division's sales for the four-week period were $4.102 billion, up 17.1 percent over sales of $3.502 billion in the same four- week period in the prior year. The division's sales for the seventeen weeks of $17.031 billion were up 20.2 percent over the $14.165 billion in the similar prior-year period.

Comparable sales for the periods ending May 28, 2004 and May 30, 2003, were as follows:

                             4 Weeks                    17 Weeks
                     This Year     Last Year     This Year     Last Year
  Wal-Mart             4.7 %         2.1 %         5.0 %         2.4 %
  SAM'S CLUB          11.8 %         1.8 %         9.0 %         2.2 %
  Total U.S.           5.9 %         2.1 %         5.7 %         2.4 %

For the June five-week period, we continue to forecast comparative sales for the U.S. to be up in the 4 to 6 percent range. The movement of the July 4th holiday out of the June period and into the July sales reporting period is estimated to impact sales negatively by slightly less than 1 percent. This is partially offset by the minimal positive impact of the movement of Memorial Day into the June period. Given these calendar shifts, we expect to be near the low end of the range.