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Wal-Mart Lifts Profit Outlook as Sales Grow

Wal-Mart Stores Inc. WMT 0.05 % reported stronger-than-expected same-store sales growth in the latest period, with slightly more shoppers heading to its stores at a time when many retailers are struggling to attract foot traffic.

The retailer also lifted its profit outlook for the year. Shares rose 3.5% to $75.48 in premarket trading.

Same-store sales at Wal-Mart’s U.S. stores rose 1.6%, above its guidance for a 1% increase. Meanwhile, traffic rose 1.2%. Both are signs that the retailer’s store improvements and labor investments are paying off.

Many retailers have struggled recently to grow sales. Target Corp. TGT -6.43 % said Wednesday that its same-store sales fell for the first time in more than two years as fewer shoppers visited its locations, while Macy’s Inc. M -0.71 % last week said it would shut 100 more stores, or 14% of...