Wal-Mart’s 3Q Earnings Rise
Retailer Wal-Mart Stores said Thursday its fiscal third-quarter earnings rose 10%, but the company trimmed its full-year outlook.
Net earnings for the quarter ended Oct. 31 rose to $3.14 billion, or 80 cents a share, from $2.86 billion, or 70 cents, a year earlier, the company said.
Profit from continuing operations rose 6.6% to $3 billion, while net sales gained 7.5% to $97.6 billion for the period ended Oct. 31, Wal-Mart said.
Responding to the troubled economy and increasing strength of the dollar, Wal-Mart expects its earnings from continuing operations to be $3.42 to $3.46 per share, down from earlier forecasts of $3.43 to $3.50, AP reported. The company expects fourth-quarter earnings between $1.03 and $1.07 per share.
With about 8,000 tractors and 1,400 straight trucks, Wal-Mart is ranked No. 3 on the Transport Topics Private 100 listing of the largest U.S. and Canadian private carriers.
