Wal-Mart's 3Q Profit Rises 10 Percent

By: Associated Press
By: Associated Press
Wal-Mart is reporting a 10 percent increase in third-quarter profit as the world

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)

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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.

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