Author Topic: Wal-Mart: Sales up, profits down  (Read 1259 times)

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Offline thundley4

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Wal-Mart: Sales up, profits down
« on: February 17, 2009, 09:46:36 AM »
"NEW YORK (CNNMoney.com) -- Wal-Mart Stores reported Tuesday that fourth-quarter sales rose, while profit fell - both missing analyst estimates.

But the company's stock rose some 3.5% on the back of its strong cash position and surging sales.

Wal-Mart said sales had nearly reached $108 billion during the quarter, while earnings, excluding charges, reached 96 cents per share for the three months ended Jan. 31.

That compares with the prior year's quarter, when the world's biggest retailer reported net sales of $106.2 billion and earnings of $1.02 per share.

Analysts had expected Wal-Mart (WMT, Fortune 500) to report a 2% revenue gain to $109 billion, and a 5% decline in earnings to 99 cents per share, according to a consensus of analysts polled by Thomson Reuters."cnn money