Wal-Mart
A 9.3 percent increase in third-quarter net income came as the retailer benefited from cost controls and robust international business.
The improvements came despite weakness at its U.S. business. Total revenue at U.S. Wal-Mart stores fell as fewer customers visited and spent less when they did.
Wal-Mart posted net income of $3.44 billion, or 95 cents a share, in the quarter ended Oct. 31. That’s up from $3.14 billion, or 81 cents a share, in last year’s third quarter. Excluding a tax benefit, the company earned 90 cents a share, which matched estimates from a poll of analysts surveyed by Thomson Reuters. Revenue reached $101.24 billion.
Home Depot
A 21 percent gain in third-quarter profit beat analysts’ estimates and increased Home Depot’s earnings forecast for the year after curbing expenses.
Net income rose to $834 million, or 51 cents a share, in the quarter ended Oct. 31, from $689 million, or 41 cents, a year earlier, Atlanta- based Home Depot said Tuesday. Revenue rose 1.4 percent to $16.6 billion.
Saks
Less discounting in its third-quarter this year compared with last helped the retailer’s net income rise and beat forecasts.
The parent company of Saks Fifth Avenue and off-price Off 5th stores reported net income of $36.3 million, or 20 cents a share, for the period that ended Oct. 30, up from $6.3 million, or 4 cents a share, in the same period last year.
