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Wal-Mart to invest $756 million in Brazil
New York City -- Wal-Mart Stores said that by the end of the year it will have invested the equivalent of approximately $756 million to expand its operations in Brazil.
Marcos Samaha, president of Wal-Mart's Brazilian subsidiary, said in a Tuesday statement that 1.2 billion reals ($755 million) will be used to build 80 stores, renovate existing locations and improve logistics.
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Big Five Q1 income slides 54%
El Segundo, Calif. -- Big 5 Sporting Goods Corp.’s first-quarter net income fell 54% and missed analysts' expectations because of increased expenses as customer traffic declined.
The company also gave a second-quarter earnings outlook much lower than Wall Street's view.
Big 5 reported late Tuesday that it earned $2.8 million for the period ended April 3, down from $5 million a year ago.
