Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release


Wal-Mart 3Q Profit Up 8 Percent

Send a link to a friend

[November 13, 2007]  BENTONVILLE, Ark. (AP) -- Wal-Mart Stores Inc., the world's largest retailer, said Tuesday its fiscal 2008 third-quarter profit grew 8 percent to top Wall Street expectations on strong international growth and improved performance in its U.S. operations.

For the quarter ended Oct. 31, net income grew to $2.86 billion, or 70 cents per share, from $2.65 billion, or 63 cents per share, last year. The latest period includes a gain of a penny per share on the sale of property.

Chamber Corner
Main Street News
Job Hunt | Classifieds

Calendar | Illinois Lottery  Tech News Elsewhere (fresh daily from the Web)

Business News Elsewhere (fresh daily from the Web)

Total revenue, including membership and other income, grew to $91.95 billion from $84.47 billion a year ago. Net sales grew nearly 9 percent to $90.88 billion from $83.54 billion, helped by 16.9 percent international growth and 6.4 percent growth in U.S. Wal-Mart stores.

The results beat consensus estimates of analysts surveyed by Thomson Financial, who expected profit of 67 cents per share on revenue of $91.67 billion.

"Our results for the third quarter reflect the improved performance of our U.S. operations. Both Wal-Mart Stores U.S. and Sam's Club increased profits faster than sales. Wal-Mart International posted a solid quarter as well," said Lee Scott, Wal-Mart Stores president and chief executive.

For the fourth quarter of fiscal 2008, the company expects sales at U.S. stores open at least a year to be flat to up 2 percent. Wal-Mart Stores forecast quarterly earnings per share from continuing operations between 99 cents and $1.03, resulting in full-year profit of $3.13 to $3.17 per share.

The guidance includes an anticipated restructuring charge of about $40 million in the fourth quarter.

Wall Street is predicting quarterly earnings per share of $1.02 and full-year profit of $3.09 per share.

[Associated Press]

Copyright 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

< Recent articles

Back to top


 

News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries

Community | Perspectives | Law & Courts | Leisure Time | Spiritual Life | Health & Fitness | Teen Scene
Calendar | Letters to the Editor