NEW YORK (WKOW) - Wal-Mart stores reported an almost 15 percent decline in fourth-quarter profits. The company continued to rebound over the holidays.
Net income was $5.16 billion, or $1.50 per share in the three month period that ended January 31. That compares with $6.05 billion, or $1.70 per share, in the year before.
Including results from certain tax benefits, the retail recorded $1.51 per share for the quarter.
Net sales rose 5.9 percent to $122.28 billion.
Wal-Mart had a 1.5 percent increase in revenue at stores that have been open for at least a year. This is the company's second consecutive quarterly gain after facing more than a two-year struggle.
