Wal-Mart sees record profit on international sales

Business Materials 19 February 2008 23:46 (UTC +04:00)

( dpa )- Wal-Mart Stores Inc, the world's largest retailer, said Tuesday it saw record quarterly profits despite the weaker US economy on strong international sales.

Wal-Mart earnings increased 4 per cent to 4.1 billion dollars in the November-to-January period from the year-earlier quarter. Sales rose 8.4 per cent to 107.4 billion dollars - the first time they broke the 100 billion dollar mark for a quarter, the Bentonville, Arkansas-based chain said.

International sales rose 19 per cent on a weaker dollar, while sales at US stores rose 5 per cent. Chief executive Lee Scott warned that US spending appeared to slow in January and the weaker economy remained a critical factor.

For the fiscal year, Wal-Mart earned 12.7 billion dollars, or 3.13 dollars, 13 per cent more than the previous year. Revenue rose 9 per cent to 374.5 billion dollars.