Wal-Mart posts higher Q3 net sales, income

FROM TWICE: Entertainment-related products expected in Black Friday sales

By TWICE staff -- Video Business, 11/14/2008

NOV. 14 | FROM TWICE: Wal-Mart today reported worldwide net sales of $97.6 billion for the third quarter of fiscal year 2009, ended Oct. 31, an increase of 7.5%, compared with $90.8 billion in the same period last year.

Net income for the quarter was $3.14 billion, from $2.86 billion in the quarter last year.

“We are very pleased with our results this quarter,” said Lee Scott, Wal-Mart Stores president and CEO, in a release. “Despite economic difficulties around the world, we achieved solid sales and earnings growth, and we are optimistic about the upcoming holidays. At a time when our customer is feeling pressure of a tough economy, Wal-Mart’s price leadership is more important than ever.”

Read the full story on TWICE.com.

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