A Tennesee man wants to know why an MP3 video player he bought for his 10-year-old daughter for Christmas at a Wal-Mart came preloaded with pornography and explicit songs. (AP)
Wal-Mart is reporting a 10 percent increase in third-quarter profit as the world's largest retailer's renewed focus on low prices attracts financially squeezed shoppers around the world.
The Bentonville, Ark.-based retailer said today that profits rose to $3.14 billion, or 80 cents per share, in the quarter ended Oct. 31. That compares with $2.86 billion, or 70 cents per share, a year earlier.
Earnings from continuing operations were 77 cents per share.
Analysts surveyed by Thomson Reuters expected 76 cents per share.
Net sales for the third quarter were $97.6 billion, up 7.5 percent from a year ago.
Wal-Mart has 81 supercenters, discount stores, Sam's Clubs and distribution centers in Colorado, and employs more than 26,300 people in the state.