Home Wealth  Money Wal-Mart Profit Rises, Forecast Disappoints

Wal-Mart Profit Rises, Forecast Disappoints

Posted: Nov. 16th, 2011  |  By Forbes

powered by Forbes

RSS Syndicated News Email a Friend Suggest an Article Share Visit Website

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.

Market News Video produces and distributes online videos about stocks and investing.




Share on Facebook Share
See Next Article
Need to Get Away?
Top 10 Business Hotels
Who says you can’t mix business with pleasure?
Read More
More Articles from Forbes.com

advertisement
Quick Links
Autos
Boating
Real Estate
Luxury Travel
Fashion
Search Real Estate
Find Your Dream Home
Search for homes by
State, Country or Style.
Event Calendar
advertisement
Current News & Features
$2.1M Parisian Apartment Once Home to Famed French Aristocrat, Oozes Historical Relevance
Move Aside Porsche 918 Spyder: Divergent Microfactories Unveils the "World's First 3D-Printed Supercar"
The Bespoke W1 Suitcase Takes It Back to Travel's Golden Days
Puerto Vallarta's Casa Velas Boasts Gourmand-Focused Experiences, Impressive Botanical Gardens and Four AAA Diamonds
History Lives on Through Dutch Artist Henk Pander's Paint Brush
New Ultra-Exclusive Hawaiian Development Kohanaiki Attracting the World's Elite With its Stellar Amenities and Charm
VIDEO: A Private Video Tour of the Mercedes-Maybach S600
The Devialet Phantom Speaker, So Loud You May Need Ear Plugs
The Overnight's Adam Scott Chats Fake Penises, Awkward Preschool Camping Trips, & the Next U2 Podcast
Lexus Makes Hoverboards Part of Our Future With New Slide Prototype
See the complete list
 
Featured Photo Gallery
See the complete list
THINGS WE LIKE