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.
Industry analysts expect consumers to show up in force, though sales may not meet last year spending levels by Americans. 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 $4.53 billion, or 6 cents per share in the year-ago period.
Comparable store sales — which include online and stores open for the past 12 months — rose 5.3% in the U.S. That is an acceleration from the 4.2% jump in the U.S. in the second quarter and 3.8% in the first quarter. Companies have already rerouted some production away from China, but an aggressive trade policy could accelerate those plans.
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