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What a mess: Walmart’s incredible expanding corruption investigation
Walmart had as much to say about an ongoing and expanding investigation into alleged violations of the U.S. Foreign Corrupt Practices Act in its third quarter filing with the Securities and Exchange Commission as it did about its actual financial results.
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Walmart Q3 sales miss Street, profit rises year-over-year
Bentonville, Ark. -- Wal-Mart Stores Inc. reported Thursday net income of $3.64 billion for the quarter ended Oct. 31, up from $3.34 billion in the year-ago period.
Sales rose 3.4% to $113.20 billion, as U.S. sales beat internal expectations but overall missed Wall Street’s expected $114.96 in revenue.
Wal-Mart U.S. saw same-store sales rise 1.5%, marking the fifth consecutive quarter of same-store sales growth after nine straight quarterly declines. At Sam’s Club, same-store sales rose 2.7%, excluding fuel.