The world’s largest retailer, Wal-Mart, has reported a 23% rise in third-quarter profits.
Go deeper with GlobalData
The retail giant said its net income for the three months to the end of October was US$1.82bn.
Wal-Mart also forecast earnings at the lower end of expectations for the Christmas period and a continued sales growth of between 3% and 5%.
Without reporting specific sales and profit figures for its UK subsidiary Asda, Wal-Mart said the UK supermarket chain performed well. Like-for-like sales at Asda, including petrol, showed high single-digit percentage growth, above rivals Tesco and J Sainsbury. Like-for-like sales, excluding petrol, showed a low double-digit percentage growth.
The company said the increases came from a rise in customer numbers and higher average spending.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataWal-Mart’s international division, which includes Walmex in Mexico and operations in other countries such as Canada and Germany, reported increased sales up 14% to $9.9bn, and net income up 42% to $447m.
The company’s US operations reported like-for-like sales up 42% and operating profits up 15%, reported the Financial Times.
