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Retailer's Net Profit Falls 3%

Retailer's Net Profit Falls 3%

Write: Achal [2011-11-18]

Retailer's Net Profit Falls 3%

A Wal-Mart store is seen in Stratford, Connecticut, the United States. Wal-Mart Stores Inc yesterday reported its first quarterly revenue gain in its US stores in more than two years, but the discounter's third-quarter profit slipped 2.9 percent. The world's largest retailer said it earned US$3.33 billion in the three-month period ended October 31, versus US$3.43 billion in the year-ago period. Wal-Mart's US namesake division's revenue at stores opened at least a year - an indicator of a retailer's health - rose 1.3 percent. [Photo: Shanghai Daily]