Walmart Profit Up
Walmart posted a 3.2 percent profit in the third quarter, ahead of its forecast, as sales rose slightly.
The retail giant’s third quarter profit was reported at $3.24 billion, up from $3.14 billion at the same time last year. Sales were reported at just below $99 billion, up 1.1 percent from the 2008 third quarter.
“Walmart’s record third quarter earnings of 84 cents per share exceeded our guidance and were well above First Call consensus,” Walmart president and chief executive officer Mike Duke said as part of the announcement. “Increased productivity and improved inventory management led to a better customer experience and contributed to our strong financial performance.