retail news in context, analysis with attitude

This morning, Wal-Mart posted third-quarter net income of $1.82 billion up from $1.48 billion during the same quarter a year ago. The quarterly profit numbers were above analysts’ estimates.

Quarterly sales totaled $58.8 billion, up 11.5 percent over the same period last year.

In addition, CEO Lee Scott said he expected a strong fourth quarter, with same store sales during the period up between three and five percent.

These projections are almost identical to those offered by the company earlier in the year, though they had been scaled back more recently because of the tough economy.
KC's View:
We held up on posting MNB this morning in order to have these numbers included…there’s an awful lot of moaning and groaning going on about the economy in general, but clearly Wal-Mart is grappling with it just fine.

Of course, there’s also a lot of moaning and groaning about Wal-Mart…

Come to think of it, Wal-Mart seems to be grappling with that just fine, too…