Wal-Mart’s earnings decline 7.4%
Wal-Mart Stores Inc. said it was still pulling shoppers away from its main rivals and enjoying a rise in customer traffic as it released better-than-expected fourth-quarter earnings Tuesday.
Profit for the fourth quarter, ended Jan. 31, fell 7.4% to $3.79 billion, or 96 cents a share, dragged down by the strong dollar and a charge from settling labor lawsuits. That compares with $4.10 billion, or $1.02, a year earlier.
Sales rose to $109.12 billion from $107.34 billion. Sales at stores open at least a year rose 2.8% in the quarter.