The broker said it was encouraged by the retailer's above-plan May sales results.

Wal-Mart posted a 3.9% rise in same-store sales for June, excluding fuel sales compared with the year-ago period. Same-store sales, a key measure of retail performance, tracks sales from stores open at least a year.

Lehman said it also remains comfortable with its forecast for June same-store sales to rise between 2% and 4%, saying the company will benefit from a favorable paycheck cycle.

Wal-Mart said it expects same-store sales, excluding fuel, to rise between 2% and 4% in June.

"We also expect Wal-Mart to continue to benefit from the stimulus checks and lean inventories," the broker said.

In addition, better weather throughout June should lead to continued improvement in apparel sales.

Lehman Bros. maintained its overweight rating on the stock and its 12-month price target of $65.

Wal-Mart, along with most other retailers, will release its same-store sales report on Thursday.

mark.cotton@thomsonreuters.com mc1/kf1

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MMMM

The bonus pool, available annually, is distributed to eligible Wal-Mart Canada associates who work in stores that met various stated targets. In keeping with a policy of open communication, Wal-Mart store management shares detailed sales and profitability progress figures with store associates daily.

This year's record bonus payment reflects Wal-Mart Canada's success in a year in which it responded to significant industry challenges. The company met growing customer demand for lower prices in light of the higher Canadian dollar with record price reductions. It also opened many stores around the clock in the lead-up to Christmas and, in some cases, permanently.

"We've said since our earliest days that our people make the difference, and they've proven it again this year," said Jim Thompson, Wal-Mart Canada's senior vice president of operations. "Pricing and operational strategies, the continued growth of our supercentre program, marketing campaigns promoting our price leadership, and many other factors brought customers to our stores last year. However, it was our store associates that delivered a phenomenal performance in a tough year for retail."

    <<
    Notes to editors:
    -   Eligibility criteria exist for Wal-Mart associates to receive a bonus
        reward. Among other criteria to receive this year's bonus, associates
        must have been hired July 31, 2007 or earlier.
    >>

SOURCE: Wal-Mart Canada Corp.

Karin Campbell, manager, corporate affairs, Wal-Mart Canada, (905) 821-2111 x 4042

"We're looking at this through the eyes of our customers, who need low prices all the time," said John Fleming, executive vice president and chief merchandising officer, Wal-Mart Stores, U.S. "And that's what we've always done best," he added.

To coincide with the distribution of economic stimulus checks, Wal-Mart will:

    -- Offer Compelling Rollbacks
       From sports drinks to shampoo, breakfast juice to lunch meat, cereal
       boxes to cereal bars, Wal-Mart has lined up rollbacks and additional
       price savings on key grocery and consumable items which are already
       available this week in store.  Over the coming weeks it will unveil
       additional rollbacks to help shoppers stretch their dollars.

       Internal Wal-Mart research shows its prices on frequently purchased
       items can be up to 25 percent lower than competitors.  With over six in
       10 Americans expecting their stimulus checks to cover their family
       needs, it's a price gap that will deliver real value in the weeks
       ahead.*

    -- Cash Economic Stimulus Checks for Free
       No purchase will be necessary to cash the check for free at any
       Wal-Mart customer service desk or MoneyCenter. **

       Wal-Mart will also refund the purchase fee on its Wal-Mart MoneyCard
       when any portion of the economic stimulus check is loaded onto the
       card. Before the first dime is spent, Wal-Mart estimates this effort
       could save Americans millions of dollars in fees, giving customers more
       money and the freedom to spend how and where they want, from buying gas
       to grocery, paying down bills or purchasing wish-list items.

    -- Provide Additional Resources to Keep Families Saving More
       Alongside additional in-store rollbacks, early next month Wal-Mart will
       unveil an online advice program to help shoppers stretch the family
       budget.

Recent spending trends show that shoppers are looking for ways to make their money work harder. For example, customers are more frequently choosing to:

    -- select something different -- such as purchasing a little more white
       meat and a little less red meat;
    -- swap something out -- for example trade a meal in a restaurant for a
       frozen or boxed meal at home;
    -- size up and size down -- considering larger pack sizes to save money in
       categories where they can stock up or choose a smaller pack size closer
       to the next paycheck.

"We know it's tough right now for Americans and we're here to help. That's why we'll focus on providing real, long-term value on the items that matter and put shoppers in control of their own spending," added Fleming.

Customers can visit any Wal-Mart MoneyCenter or Wal-Mart customer service desk for free check cashing and Wal-Mart MoneyCard purchases.** The Wal-Mart MoneyCard, a re-loadable prepaid Visa Debit card that provides many of the advantages of a checking account, is a safe, easy and convenient way to manage money, make purchases or pay bills.

Additionally, Sam's Club will cash checks for free for its members. It will also offer its own economic stimulus bonus in the form of a $40 gift of membership on select product purchases May 11 through May 31 so new members will save all year long. More details will be released early next month.

* Based on data compiled in April 2008 by BIGResearch, on behalf of Wal-Mart.

** Check cashing of economic stimulus checks will be available in the majority of Wal-Mart stores throughout the U.S. The Wal-Mart MoneyCard is currently available in 37 states and in more than 80 percent of Wal-Mart stores.

Wal-Mart Stores, U.S. President and CEO Eduardo Castro Wright will be presenting today at the Lehman Brothers Eleventh Annual Retail and Restaurant Conference. This will be webcast at 12:30 pm. Eastern. Go to http://walmartstores.com/Investors for more details.

About Wal-Mart Stores, Inc. (NYSE: WMT) Wal-Mart Stores, Inc. operates Wal-Mart discount stores, Supercenters, Neighborhood Markets and Sam's Club locations in the United States. The company operates in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and the United Kingdom. Wal-Mart serves more than 176 million customers weekly in 14 markets. The company's securities are listed on the New York Stock Exchange under the symbol WMT. For more information: http://www.walmartfacts.com.

SOURCE Wal-Mart Stores, Inc.

http://www.walmartstores.com