Walmart's promise of low prices prove to be a powerful draw in the third quarter

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Walmart's promise of low prices prove to be a powerful draw in the third quarter
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NEW YORK (AP) — Walmart ratcheted up sales and profits again in the third quarter with its comparatively low prices proving a powerful draw for shoppers seeking to cut spending where they could.

NEW YORK — Walmart ratcheted up sales and profits again in the third quarter with its comparatively low prices proving a powerful draw for shoppers seeking to cut spending where they could.

Walmart, based in Bentonville, Arkansas, reported net income of $4.58 billion, or 57 cents per share, in the three months ended Oct. 31. That compares with $453 billion, or 6 cents per share in the year-ago period. Sales rose 5.5% to $169.59 billion, up from $160.8 billion in the year-ago period, and also easily beat analyst projections.

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