Wal-Mart has posted an 11% jump in third-quarter profits thanks to an “improved performance” from its US business.
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The world’s largest retailer posted operating profit of US$4.9bn for the three months to the end of October as net sales rose 8.8% to $90.9bn.
“Our results for the third quarter reflect the improved performance of our US operations. Both Wal-Mart Stores US and Sam’s Club increased profits faster than sales,” said president and CEO Lee Scott. “Wal-Mart International posted a solid quarter as well.”
Wal-Mart’s overseas sales jumped almost 17% to $22.4bn.
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