US retail giant Wal-Mart has reported a 13.9% rise in quarterly profit, helped by a strong performance at some of its overseas operations and a turnaround at its Sam’s Club warehouse store.
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The Bentonville, Arkansas-based retailer posted earnings from continuing operations of US$2.0bn or 46 cents a share, for the third quarter to 31 October, compared to $1.8bn, or 40 cents a share, a year earlier. Analysts had expected, on average, earnings of 47 cents a share, reported Reuters.
Sales rose 13.1% to $62.5bn, while same-store US sales, or sales at US stores open at least a year, rose 6.1%.
Wal-Mart said operating profit at its flagship Wal-Mart stores rose 10.9% to $2.97bn. Operating profit at its Sam’s Club stores rose 12.5% to $270m. The company’s international operations registered operating profit of $564m, a rise of 28.5% compared to the year-ago period.
The company said it expects fourth-quarter earnings per share between 63 and 65 cents, and same-store sales growth of 3-5%.
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