retail giant Wal-mart Stores Inc reported lower quarterly profit yesterday, citing the impact of higher costs, including the wage hike for US staff.
Earning for the quarter ending April 30 were $3.3 billion, down 7% from the year-ago period. Sales were $114.83 billion, down a scant 0.1%
Wal-mart posted higher revenues at namesake US stores, but sales dropped in both international operations and at its wholesale chain, Sam's Club.
retail giant Wal-mart Stores Inc reported lower quarterly profit yesterday, citing the impact of higher costs, including the wage hike for US staff. Earning for the quarter ending April 30 were $3.3 billion, down 7% from the year-ago period. Sales were $114.83 billion, down a scant 0.1% Wal-mart posted higher revenues at namesake US stores, but sales dropped in both international operations and at its wholesale chain, Sam's Club.
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