Wal-Mart Stores Inc. reported a 23-percent jump in quarterly profits. The retailer said it was confident of a "successful and record" fourth quarter, which includes the holiday shopping season. Wal-Mart forecast sales at stores open at least a year, or same-store sales, would be up 3-5 percent in the fourth quarter.
Wal-Mart said it earned U.S. $1.82 billion, or $0.41 per share, in the third quarter, ended Oct. 31, up from $1.48 billion, or $0.33 a share, in the same period a year earlier. Wal-Mart’s third-quarter sales totaled $58.8 billion, up 11.5 percent from a year earlier, helped by new store openings. Wal-Mart has more than 3,200 stores in the United States and 1,100 in international markets. (Reuters)
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