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Wal-Mart's earnings decline 7.4%

February 18, 2009|Associated Press

NEW YORK — Wal-Mart Stores Inc. said it was still pulling shoppers away from its main rivals and enjoying a rise in customer traffic as it released better-than-expected fourth-quarter earnings Tuesday.

Profit for the fourth quarter, ended Jan. 31, fell 7.4% to $3.79 billion, or 96 cents a share, dragged down by the strong dollar and a charge from settling labor lawsuits. That compares with $4.10 billion, or $1.02, a year earlier.

Sales rose to $109.12 billion from $107.34 billion. Sales at stores open at least a year rose 2.8% in the quarter.

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