Walmart Profit Rises, But Sales Drop
Walmart Tuesday posted a fourth quarter profit of $5.02 billion, up from $4.82 billion the same period last year. However, the chain also posted its seventh consecutive quarter of declining sales.
"We are pleased with Walmart's strong earnings performance for both the fourth quarter and the full year across our three operating segments. At the same time, we are disappointed by Walmart U.S. fourth quarter sales," Mike Duke, Walmart's president and CEO, said in a statement.