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VOL. 39 | NO. 46 | Friday, November 13, 2015

Wal-Mart beats 3Q profit forecasts

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NEW YORK (AP) — Walmart reported improved customer traffic and an uptick in a key sales figure during the third quarter, even as a stronger dollar pressured its performance overseas.

Its shares edged up more than 2 percent in premarket trading Tuesday.

For the three months ended Oct. 31, the world's biggest retailer earned $3.3 billion, or $1.03 per share. A year earlier the Bentonville, Arkansas-based company earned $3.71 billion, or $1.15 per share.

The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.

Revenue slipped to $117.42 billion from $119 billion. On a constant currency basis, revenue totaled $122.4 billion. Nine analysts surveyed by Zacks expected $117.82 billion.

Sales at U.S. stores open at least a year rose 1.5 percent, the fifth straight quarterly increase. This figure is a key gauge of a retailer's health because it excludes results from stores recently opened or closed. Traffic climbed 1.7 percent.

Wal-Mart Stores Inc.'s international segment reported net sales dropped 11 percent to $29.81 billion. Net sales were $34.7 billion on a constant currency basis.

For U.S. stores, quarterly net sales gained nearly 4 percent to $72.71 billion.

Wal-Mart expects full-year earnings to be $4.50 to $4.65 per share.

Its shares rose $1.53, or 2.6 percent, to $59.40 in premarket trading two hours before the market open.

Wal-Mart shares have decreased 33 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has declined 30 percent in the last 12 months.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0