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Wal-Mart tops profit forecasts, narrows full-year outlook

Walmart reported improved customer traffic and an uptick in a key sales figure for the third quarter, even as a stronger dollar pressured its performance overseas.

The world's largest retailer also issued a forecast for the holiday shopping season that largely topped Wall Street expectations, and narrowed its full-year outlook after cutting it in August.

Its shares rose more than 2 percent in morning trading Tuesday.

Wal-Mart has been pressured on a number of fronts this year. The company, based in Bentonville, Arkansas, is facing increasing competition from online retailers like and dollar stores, and its profits have been squeezed by pay raises for...