Wal-Mart, Big Lots sales disappoint

Wal-Mart Stores Inc and Big Lots Inc reported disappointing June sales because higher petrol prices crimped consumer spending. Wal-Mart said this month’s increase may be as little as 2%.

Wal-Mart’s US sales gained 2.2% from a year earlier, the low end of its reduced forecast. Big Lots, the largest US retailer of discontinued and overstocked goods, said sales dropped 2.4% at stores at open at least two years.