Bentonville, Ark.
Wal-Mart Stores Inc., the world’s largest retailer, said Tuesday its focus on low prices paid off with a 4 percent rise in profit for its fourth quarter. International growth also helped boost profit and sales.Wal-Mart said net income in the quarter ended Jan. 31 rose to $4.096 billion, or $1.02 per share, compared to $3.94 billion, or 95 cents a share, a year earlier.
Net sales grew 8.3 percent to $106.27 billion, helped by 18.8 percent international growth and 5.0 percent growth at U.S. Wal-Mart stores. Overall revenue including membership fees rose to $107.43 billion from $99.078 billion a year earlier.
Analysts surveyed by Thomson Financial had expected profit of $1.02 per share on revenue of $106.9 billion.
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