Wal-Mart Announces Big Jump In Earnings

The world's largest retailer posted a stronger-than-expected third-quarter profit. Wal-Mart announced Thursday that sales were up 7 percent and earnings increased 10 percent. Many analysts predicted the economic downturn would be a boon for Wal-Mart.

Copyright © 2008 NPR. For personal, noncommercial use only. See Terms of Use. For other uses, prior permission required.

RENEE MONTAGNE, host:

NPR's business news starts with the Wal-Mart economy.

(Soundbite of music)

MONTAGNE: As retailer after retailer goes bankrupt, and just after many chains reported their worst October sales in decades, Wal-Mart today announced a big jump in sales and earnings. Sales are up more than seven percent. Earnings increased 10 percent. Wal-Mart said income for the most recent three-month period rose to just over $3 billion. Many had predicted the economic downturn and consumer shift to more money-saving shopping habits would be a boon for the world's biggest retailer.

Copyright © 2008 NPR. All rights reserved. No quotes from the materials contained herein may be used in any media without attribution to NPR. This transcript is provided for personal, noncommercial use only, pursuant to our Terms of Use. Any other use requires NPR's prior permission. Visit our permissions page for further information.

NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.