Headline News
Walmart increases sales
Profits were lower than expected
- Key4Communications
- retail
16/11/2011
World's biggest retail chain Walmart achived a rise in sales of 6% during the nine first months of its fiscal year, thanks to a third quarter with a 8.1% increase in revenue. This is the first quarter with better sales after nine straight declines.
In spite of this better revenue, profits fell slightly in the third quarter, from $3.44 billion to $3.34 billion, also under expectations. Earnings for the first nine months increased by 2%.
Walmart will continue its strategy of lower prices for the holiday season, not only in its brick-and-mortar stores, but also online, and particularly in toys.