Story Published:
Nov 12, 2009 at 6:28 AM CST
Story Updated:
Nov 12, 2009 at 11:15 AM CST
NEW YORK CITY -- Wal-Mart Stores reports a 3.2 percent increase in profit for the third quarter, helped by cost-control measures. The world's largest retailer says, however, that an important sales measure fell as it navigates through a tough economy and shoppers spend less when they go the store.
The discounter reports a profit of $3.24 billion, or 84 cents per share, for the period ended Oct. 31. Revenue rose to $99.4 billion from $98.3 billion. Analysts expected earnings of 81 cents on revenue of $99.9 billion. The company says that sales at stores opened at least a year fell 0.4 percent.
