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Wal-Mart profits rise in Q2, U.S. same-store sales flat
Bentonville, Ark. -- Wal-Mart Stores reported Tuesday that profit for the quarter ended July 31 rose to $3.8 billion, up from $3.6 billion in the year-ago period. Overall revenue, up 5.4% to $109.37 billion, topped Wall Street’s expectations.
Yet, the world’s largest retailer is feeling the pinch from a tight economy that is slow to loosen. Wal-Mart U.S., the company's biggest unit, posted a 0.9% drop in same-store sales, the ninth consecutive quarterly drop and beneath analysts' estimates for a 0.6% fall.
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Lowe’s Q2 falls short of expectations
MOORESVILLE, N.C. — Lowe’s reported sales of $14.5 billion in the second quarter ended July 29, up 1.3% from the same period a year ago.
Comparable-store sales increased 0.3% in the second quarter. The company posted earnings for the quarter of $830 million, down just slightly from $832 million in the same quarter last year.