Wal-Mart’s US Slump
May 18, 2011 by staff
Wal-Mart’s US Slump, Wal-Mart Stores Inc. is reporting a 3 percent increase in net income for the first quarter, beating Wall Street expectations because of strong international business and cost control.
However, the world’s largest retailer in the U.S. Walmart stores posted its eighth consecutive quarter of declining revenue at stores open at least a year. That is a key measure of a retailer’s health.
Wal-Mart says it won and 3.39 billion, or 97 cents per share for the three months ended April 30. And that compares to $ 3.3 million, or 87 cents per share, in the same period last year.
Income, excluding income from membership fees of the Sam’s Club store, rose 4.4 percent to 103 410 000 000.
Analysts expected earnings of 95 cents on revenue of 102 760 000 000 and, according to FactSet.
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