Wal-Mart Stores Inc., citing a miscalculation, has lowered its preliminary estimate of September same-store-sales gains, a move that raised new worries about the growth of the world's largest retailer, The Wall Street Journal reported on Thursday.

Wal-Mart said that sales at stores open at least 12 months were up 1.3 percent, near the bottom of its original forecast, and belowed the estimated 1.8 percent increase it reported on Saturday.

A spokesman said it had mistakenly categorized the sales from 235 stores in the earlier figure, according to the report.

The reduced estimate was heightening concerns about the outlook heading into the year's most important selling season.

Analysts had expected Wal-Mart, Bentonville, Ark. to shake off the earlier weakness it had blamed on higher energy and interest costs.

Gasoline costs in the United States had declined more than 20 percent in the past two months, but Wal-Mart's sales were not rebounding, said the report.

The latest revision left Wal-Mart trailing the estimated percentage gains of most retailers, including Target Corp. and Federated Department Stores Inc., which have raised their sales forecasts in recent weeks.

Better results elsewhere suggested Wal-Mart might be losing share to rivals, said Ed Yardeni, chief investment strategist at fund manager, Oak Associates.

"Consumers are doing so well they would rather shop in high-end department stores," he said.

Source: Xinhua