Wal-Mart Reports Biggest Gains in 10 Years
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Wal-Mart Stores Inc., the world’s largest retailer, may report the biggest quarterly profit gain in at least 10 years, helped by higher sales of electronics products and comparison with a year-earlier period that included a charge to pull out of Germany. Net income for the second quarter probably rose 51% to $3.15 billion, or 76 cents a share, according to the average estimate of 18 analysts surveyed by Bloomberg. A year earlier, profit fell for the first time in a decade on costs to sell its 85 stores in Germany. Sales in the three months through August 3 rose 9.8% to $92.8 billion, the survey showed.
Wal-Mart added Dell Inc.computers and sold more flat-panel televisions during the quarter. The company named new executives to oversee clothing after sales of higher-priced apparel and home goods faltered.
