|Page (1) of 1 - 02/21/12||email article||print page|
Wal-Mart's 4Q profits slip, but US business rebounding
NEW YORK (AP) ' Wal-Mart Stores Inc. is reporting a 4.2 percent decline in fourth-quarter profits. But the world's largest retailer's U.S. namesake business continued its rebound as its grabbed shoppers 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.