Pursuits
Wal-Mart Says Profit Climbs 3.6%; Forecast Boosted
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Wal-Mart Stores Inc., the world’s largest retailer, reported a 3.6 percent gain in second-quarter profit as growth abroad helped make up for sales declines in the U.S. The company boosted its profit forecast for the year.
Net income advanced to $3.6 billion, or 97 cents a share, meeting the average of estimates compiled by Bloomberg. Profit will be as much as $4.05 a share for the year, compared with an earlier top range of $4, the Bentonville, Arkansas-based company said today in a statement.