Wal-Mart's 4Q Profits Slip; US Business Rebounding
(AP) - Wal-Mart Stores Inc. reported an almost 15 percent decline in fourth-quarter profits as the world's largest retailer's U.S. namesake business continued to rebound over the critical holidays.
The discounter says net income was $5.16 billion, or $1.50 per share in the three months ended Jan. 31. That compares with $6.05 billion, or $1.70 per share, in the year ago period.
Including results from certain tax benefits, the retail recorded $1.51 per share for the quarter.
Net sales rose 5.9 percent to $122.28 billion.
The company's namesake business had a 1.5 percent increase in revenue at stores opened at least a year, its second consecutive quarterly gain after facing a more than two-year slump.
Analysts were expecting earnings per share of $1.46 on revenue of $123.9 billion.
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