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Wal-Mart's Q4 profit surges 27% on international gains; U.S. sales still lag
Bentonville, Ark. -- Wal-Mart Stores reported Tuesday that earnings for the quarter ended Jan. 31 jumped 27% as its international stores posted strong results. In the United States, however, the retailer posted its seventh straight quarterly sales decline, falling short of its own projections for the holiday period.
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Office Depot narrows loss in Q4
Boca Raton, Fla. -- Office Depot said Tuesday that it narrowed its loss in the quarter ended Dec. 25 to $58 million, compared with a loss of $77 million in the year-ago period.
Total sales dropped 3% to $3 billion. Sales in the North American Retail division dipped 2% to $1.2 billion; same-store sales decreased 1%. During the quarter, Office Depot closed six stores, opened three and relocated four stores in North America.