Wal-Mart Posts 3 Percent Rise In Profit For 3Q
Shoppers move through the check-out line at a Wal-Mart in Tallahassee, Fla., in August.
Shoppers move through the check-out line at a Wal-Mart in Tallahassee, Fla., in August.
Wal-Mart Stores Inc. is reporting a 3.2 percent increase in profit for the third quarter, helped by cost-control measures.
But the world's largest retailer says an important sales measure fell as it navigates through a tough economy and shoppers spend less when they go the store.
The discounter is reporting a profit of $3.24 billion, or 84 cents per share, for the period ended Oct. 31.
Revenue rose to $99.4 billion from $98.3 billion. Analysts expected earnings of 81 cents on revenue of $99.9 billion.
The company says that sales at stores opened at least a year fell 0.4 percent.
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