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http://www.guardian.co.uk/business/2013/feb/21/walmart-profits-rise-weak-sales
Walmart. Revenue rose 3.9% to $127.92bn. Photograph: Damian Dovarganes/AP
Walmart said on Thursday that US sales weakness persisted into early February, as Americans absorbed the impact of higher payroll taxes and gasoline prices, along with slow tax refunds that put some spending on hold.
The weakness came even as the world's largest retailer reported a bigger-than-expected profit increase, which was helped by a lower-than-anticipated tax rate. Walmart also raised its dividend payout.
Walmart's shares rose 1.6% to $70.38 in early trading.
Walmart US, the firm's largest unit by far, has had a slow start to February, which Walmart US chief executive Bill Simon attributed largely to a delay in income tax refunds. The company expects sales at Walmart US stores open at least a year, or same-store sales, to be about flat during the current first quarter. A year earlier, such sales rose 2.6%.
Walmart. Revenue rose 3.9% to $127.92bn. Photograph: Damian Dovarganes/AP
Walmart said on Thursday that US sales weakness persisted into early February, as Americans absorbed the impact of higher payroll taxes and gasoline prices, along with slow tax refunds that put some spending on hold.
The weakness came even as the world's largest retailer reported a bigger-than-expected profit increase, which was helped by a lower-than-anticipated tax rate. Walmart also raised its dividend payout.
Walmart's shares rose 1.6% to $70.38 in early trading.
Walmart US, the firm's largest unit by far, has had a slow start to February, which Walmart US chief executive Bill Simon attributed largely to a delay in income tax refunds. The company expects sales at Walmart US stores open at least a year, or same-store sales, to be about flat during the current first quarter. A year earlier, such sales rose 2.6%.
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