Wal-Mart profits rise despite weak US sales

The world's biggest retailer, Wal-Mart, has reported a 9% rise in profits thanks to strong sales overseas.

Profit in the third quarter rose to $3.44bn (£2.15bn) compared with $3.15bn for the same period last year.

Sales in the US fell for the sixth month in a row as American shoppers continued to feel under pressure.

However, Wal-Mart International continues to enjoy strong growth. Its UK business, Asda, said that it would be creating 7,500 new jobs next year,

"Our international business continues to deliver impressive results with sales up more than 9%" said Mike Duke, Wal-Mart president and chief executive.

Read Full Article from BBC News

- Posted: 2010-11-16 09:22:23

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