Profit Boost Perks Up Wal-Mart Shares
Business Law
Wal-Mart (WMT) shares climbed 3% Thursday after the giant retailer surprised Wall Street by boosting its earnings estimate for the third quarter, despite tepid sales.
The Bentonville, Ark., company said it now expects to make 68 cents to 69 cents a share for the quarter, up from its previous forecast of 62 cents to 65 cents a share. Analysts polled by Thomson Financial expected earnings of 63 cents a share.
The company said it had improved expense controls at its Wal-Mart Stores division, which expanded profit margins. That helped offset relatively meager sales growth.
Wal-Mart said same-store sales rose 1.4% from a year ago in September, at the lower end of its forecast for a 1% to 3% rise. Analysts expected a 1.8% increase in same-store sales, or sales at stores open at least a year.
Sales in established Wal-Mart stores inched up 0.8%, and those at warehouse-club operator Sam's Club jumped 4.4%.
"Overall, apparel and home remain soft. Company research reinforces that customers remain concerned about their finances, especially the cost of living," Wal-Mart said. "In addition, unseasonably warmer weather in much of the country, coupled with tighter consumer spending, negatively impacted key seasonal categories."
The report came as many retailers reported sluggish sales for September, including Wal-Mart rival Target (TGT) and department-store chains like J.C. Penney (JCP) and Macy's (M) . While several chains attributed the drop to warmer-than-average weather, the companies are also dealing with inventory missteps and the threat of tighter consumer spending.
Related listings
-
Treasurys Dip As Rate Cut Seems Unlikely
Business Law 10/10/2007[##_1L|1353340092.jpg|width="128" height="81" alt=""|_##]Treasury prices fell Wednesday amid a growing consensus in the bond market that the Federal Reserve won't cut rates this month. Minutes from the Fed's September monetary policy meeting, release...
-
GE to close some plants in Brazil
Business Law 10/07/2007General Electric Co. said Thursday it will close a number of lighting plants in Brazil and the U.S. as part of a plan to restructure its consumer and industrial division, potentially cutting more than 1,400 jobs in the process. GE Consumer & Indu...
-
Ford struggling to win back sales, share
Business Law 10/03/2007Ford Motor's biggest rival, General Motors, has a tentative contract deal with the United Automobile Workers union and relatively stable sales. Ford has neither. Sales at Ford fell 18.2 percent in September, closing out its 2007 model year on a disap...
Illinois Work Injury Lawyers – Krol, Bongiorno & Given, LTD.
Accidents in the workplace are often caused by unsafe work conditions arising from ignoring safety rules, overlooking maintenance or other negligence of those in management. While we are one of the largest firms in Illinois dedicated solely to the representation of injured workers, we pride ourselves on the personal, one-on-one approach we deliver to each client.
Work accidents can cause serious injuries and sometimes permanent damage. Some extremely serious work injuries can permanently hinder a person’s ability to get around and continue their daily duties. Factors that affect one’s quality of life such as place of work, relationships with friends and family, and social standing can all be taken away quickly by a work injury. Although, you may not be able to recover all of your losses, you may be entitled to compensation as a result of your work injury. Krol, Bongiorno & Given, LTD. provides informed advocacy in all kinds of workers’ compensation claims, including:
• Injuries to the back and neck, including severe spinal cord injuries
• Serious head injuries
• Heart problems resulting from workplace activities
• Injuries to the knees, elbows, shoulders and other joints
• Injuries caused by repetitive movements
For Illinois Workers’ Compensation claims, you will ALWAYS cheat yourself if you do not hire an experienced attorney. When you hire Krol, Bongiorno & Given, Ltd, you will have someone to guide you through the process, and when it is time to settle, we will add value to your case IN EXCESS of our fee. In the last few years, employers and insurance carriers have sought to advance the argument that when you settle a case without an attorney, your already low settlement should be further reduced by 20% so that you do not get a “windfall.” Representing yourself in Illinois is a lose-lose proposition.