Wal-Mart Raises Forecast as U.S. Stores Halt Sales Decline
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Wal-Mart Stores Inc., the world’s largest retailer, boosted its profit forecast for the year after the Sam’s Club chain and changes in merchandising helped the company halt a decline in U.S. store sales.
Profit in the fiscal year ending in January will be $4.41 to $4.51 a share, up from a previous projection of $4.35 to $4.50, Bentonville, Arkansas-based Wal-Mart said today in a statement. The average estimate of 25 analysts in a Bloomberg survey was $4.47. Second-quarter net income climbed 5.7 percent.