Home Wealth  Money Wal-Mart Profit Rises, Forecast Disappoints

Wal-Mart Profit Rises, Forecast Disappoints

Posted: Nov. 16th, 2011  |  By Forbes

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Wal-Mart reported fiscal third-quarter earnings Tuesday.

The world's largest retailer said net income totaled $3.34 billion, or $0.96 per share, compared to $3.44 billion, or $0.95 per share, when there were more shares outstanding.

Earnings from continuing operations totaled $0.97 per share, just short of analyst estimates.

Net sales rose 8.2%, to $109.5 billion, just ahead of analyst estimates.

Same-store sales rose 1.3% at the company's U.S. Wal-Mart (nyse: WMT - news - people ) stores.

Wal-Mart said it is looking for full-year earnings of $4.45 to $4.51 per share, below analyst estimates at the low end.

Late yesterday, Urban Outfitters (nasdaq: URBN - news - people ) reported a dip in its third quarter.

Profits fell to $50.7 million, or $0.33 per share, from $73.1 million, or $0.43 per share, in last year's third quarter.

The apparel retailer said revenue rose 6% in the third quarter, to $610 million.

Per-share results were just ahead of analyst estimates, but revenue fell short.

Same-store sales fell 7% overall, and were comprised of a 14% increase in sales at the company's Free People brand, flat sales at Urban Outfitters, and a 7% decline at Anthropologie stores.

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