Wal-Mart’s 2Q Profit Rises 17 Percent

NEW YORK (AP) _ Wal-Mart Stores Inc. posted a 17 percent increase in second-quarter profit Thursday and raised its full-year earnings forecast, helped by cost cuts and a renewed focus on low prices that is attracting financially squeezed shoppers around the world.

But the world’s largest retailer predicted slower sales growth at its established stores for the current quarter, saying it is seeing some volatility as customers find it difficult to stretch their paycheck to the next payday.

The Bentonville, Ark.-based retailer said it earned $3.45 billion, or 87 cents per share, in the quarter ended July 31, up from $2.95 billion, or 72 cents per share, a year earlier.

UPDATED: Wal-Mart’s 2Q Profit Rises 17 Percent – Associated Press


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