Wal-Mart Earnings Higher For Last Quarter
By: Import User
Updated: January 7, 2009
Wal-Mart Stores, the world`s largest
retailer, posted a thirteen percent increase in third-quarter
earnings but narrowly missed Wall Street expectations.
The retailer said today it earned 2.03 billion
dollars, or 46 per share, compared with earnings of
1.8 billion, or 41 cents per share a year
ago.
Analysts had forecast earnings of 47 cents a share for
the latest period.
Sales at US stores open at least a year were up 6.1% for the quarter.
President and CEO Lee Scott said the retailer`s rapidly
expanding international stores and its Sam`s Club stores were
notably strong.
Profit at the international segment rose 28.5% to 564 million in the latest quarter versus
a year ago. Profit from Sam`s Club warehouses was up
twelve-point-five percent at 270 millon
dollars.
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Domestic Wal-Mart stores, including Supercenters, boosted
operating profit to over 2.97 billion in the
quarter, up 10.9% from the same period last year.
For the first nine months of the year, Wal-Mart earned six-point
33 billion, or a 1.44 per
share.
