Wal-Mart First-Quarter Profit Rises on International Sales
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Wal-Mart Stores Inc., the world’s largest retailer, posted a 3.8 percent gain in first-quarter profit, beating analysts’ estimates as growth abroad helped make up for U.S. sales declines.
Profit from continuing operations rose to 98 cents a share, including a 1-cent foreign exchange gain, Wal-Mart said today. That compared with the 95-cent average of estimates compiled by Bloomberg. Sales abroad climbed 6.2 percent on a constant currency basis, boosted by China, Chile and Mexico.