NEW YORK (CNNMoney) -- Wal-Mart Stores Inc., the world's largest retailer, posted gains Tuesday in quarterly earnings and sales and raised its earnings guidance for all of the current fiscal year.
The company said earnings from continuing operations rose 5.7% to $3.8 billion in the fiscal second quarter, which ended July 31. On a per-share basis, earnings climbed 12.4% to $1.09.
2 comments:
Put me in a room with the Waltons and see what happens.
Perhaps because? ...A Walmart cashier told me and my wife when we were checking out with our groceries in the first week of August that WalMart raises their prices at the beginning of every month because "people get their checks" from the government and they know people will be spending all that money. She said they lower the prices after a few days of "profit-taking." I'm not sure if that's capitalism or not, but it certainly seems "scummy" if it's true. Not sure why she'd say that, though, if it wasn't. Anyone else heard of this practice? If true, that gives us one more reason to shop elsewhere whenever possible and NEVER to shop there during the first ten days or so of any month.
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