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Bentonville, Ark. – Wal- Mart Stores Inc. posted its first profit decline in a decade Tuesday as the world’s largest retailer paid a hefty price for closing its money-losing German stores while high energy prices hit its sales and costs at home.
Chief executive Lee Scott said sales were disappointing at Wal-Mart’s U.S. stores, its largest division. Customers were making fewer shopping trips to save gas, while Wal-Mart’s own bills for fuel and utilities were up, he said.
