Wal-Mart reports more sales but lower Q4 profits

Linda Young – AHN News Writer

New York, NY, United States (AHN) – Wal-Mart reported lower profits for the fourth quarter of 2011 despite an increase in sales.

Fiscal fourth-quarter profit for Wal-Mart dropped by 15 percent and caused stock shares to drop 4 percent in trading.

The world’s largest retailer reported sales rose by 1.5 percent at Wal-Mart stores in the United States. However, cash poor consumers and stiff competition from dollar stores caused Wal-Mart to expand its product range and drop prices to match or beat competitors to revive sales.

Wal-Mart reported per share earnings of $ 1.44.

Although that was 10 cents higher than the same quarter a year ago, it was still 1 cent lower than Wall Street expectations.

 

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