Wal-Mart's Profit Climbs by 13%

23 February 2006

    BENTONVILLE, ARKANSAS - The world's largest retailer posted a 13% rise in quarterly profit thanks to aggressive holiday promotions and an overhaul of its US operations.
    However, Wal-Mart Stores warned that rising interest costs would constrain results this year.
    For the past fiscal year, net sales rose 9.5% to $312.4 billion (€262.41bn; £179.28bn) and net income rose 9.4% to a record $11.2bn.
    Said cfo Tom Schoewe: "We feel good about what's happening."