Wal-Mart’s Profit Improves in Second Quarter
Wal-Mart Stores said Tuesday its second-quarter net income rose 3.6% and the retailer boosted its full-year earnings outlook.
Sales rose almost 3% to $103.7 billion for the quarter ended July 31. Revenue at stores open at least a year fell 1.4%, the company said.
Wal-Mart said its third-quarter earnings per share from continuing operations would be 87 cents to 91 cents, compared with an adjusted 82 cents per share last year.
It also boosted its full-year earnings guidance to $3.95 to $4.05 per share, up from its previous $3.90 to $4 per-share guidance, assuming currency exchange rates hold at current levels.
With about 6,750 tractors and more than 55,000 trailers, Wal-Mart ranks No. 3 on the Transport Topics Private 100 listing of U.S. and Canadian private carriers.