Wal-Mart Profit Slips, Sales Gain, Company Predicts Stronger Holiday Sales

Wal-Mart, America’s largest big-box retailer, reported a revenue gain for its third quarter, its first gain in two years. The company, which also operates Sam’s Club stores in the U.S., said that an improvement in sales and leveraged operating expenses contributed to an 8% increase in sales. Profit slipped 2.9% from the year before, however. Shares fell 2.3% to $57.51.

Net income was $3.3 billion, or 97 cents per share, down from $3.43 billion or 95 cents per share the year before. The results came in a penny below the analyst consensus.

International sales growth included benefits from currency exchange rates and acquisitions. Sales increased 15% on a constant-currency basis, helped by continued strength in emerging markets. Excluding fuel, comparative store sales increased 1.9% during the quarter.

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- Posted: 2011-11-15 12:17:55

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