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Yahoo

Business - Wal-Mart profit beats expectations, stock rises


Excluding a non-cash gain from the sale of Wal-Mart`s e-commerce business in China and other items, earnings per share came to $1.07 in the second quarter ended on July 31. Wal-Mart said sales at U.S. stores open at least a year rose 1.6 percent, excluding fuel price fluctuations. Earlier this year, Wal-Mart said it would invest $2.7 billion over two years to increase entry-level wages to $10 an hour, a move the retailer said has led to cleaner stores, faster checkouts and improved customer service.


Thursday, August 18, 2016  12:35

Yahoo

Business - Dollar General takes the battle to Wal-Mart with price cuts


Dollar General`s shares fell as much as 14 percent on Thursday after the company reported quarterly sales below estimates, blaming aggressive competition, lower food prices and a reduction of food stamp coverage in several U.S. states. Larger rival Dollar Tree Inc also reported lower-than-expected sales, sending its shares down 8.3 percent. Dollar General cut prices by 10 percent on average on about 450 of its best-selling items across 2,200 stores during the quarter, Chief Executive Todd Vasos said on a conference call.


Thursday, August 25, 2016  18:28

Yahoo

Business - Wall St. inches up with energy gain, Wal-Mart


U.S. stocks ended up slightly on Thursday as Brent oil`s rise above $50 a barrel boosted energy shares and an upbeat outlook lifted Wal-Mart to a 14-month high. Wal-Mart rose 1.9 percent to end at $74.30 after the retailer reported a better-than-expected quarterly profit and raised its fiscal-year outlook.


Thursday, August 18, 2016  22:05

Yahoo

Business - Wal-Mart raises profit forecast; shares rise


Wal-Mart Stores Inc raised its fiscal-year profit forecast on Thursday and reported higher-than-expected quarterly earnings, an improvement it attributed in part to a better shopping experience resulting from employee wage increases. Earlier this year, Wal-Mart said it would invest $2.7 billion over two years to increase entry-level wages to $10 an hour, a move the company said has led to cleaner stores, faster checkouts and improved customer service. `Walmart`s strategic investments are generating traction, which is especially meaningful, given a large portion of its customer base remains challenged,` said Moody`s analyst Charlie O`Shea.


Thursday, August 18, 2016  13:54

Yahoo

World - Indian textile maker Welspun under scrutiny over sheets


NEW YORK (AP) U.S. retailers including J.C. Penney and Wal-Mart are scrutinizing whether sheets Welspun India Ltd. had said were high-end Egyptian cotton were actually cheaper knock-offs, questions that have sent the textile company`s shares plunging more than 40 percent.


Thursday, August 25, 2016  17:16

Yahoo

World - Textile maker Welspun under increased scrutiny over sheets


NEW YORK (AP) U.S. retailers like J.C. Penney and Wal-Mart are scrutinizing whether sheets Welspun India Ltd. said were Egyptian cotton are actually knock-offs, sending its shares plummeting.


Thursday, August 25, 2016  16:27

Yahoo

Business - Puerto Rico cannot enforce a Wal-Mart tax: U.S. appeals court


The 1st U.S. Circuit Court of Appeals in Boston upheld a lower court order blocking the U.S. territory from imposing its alternative minimum tax against Wal-Mart Puerto Rico Inc. The appeals court called the tax `facially discriminatory,` saying it taxed only cross-border transactions between a Puerto Rico corporate taxpayer and a related entity located elsewhere.


Wednesday, August 24, 2016  22:18

Yahoo

Business - Energy boosts Wall St.; Walmart at 14-month high


NEW YORK (Reuters) - U.S. stocks ended slightly higher on Thursday after Brent crude oil`s rise above $50 per barrel boosted energy shares and as Wal-Mart ended at a 14-month high after it raised its outlook.


Thursday, August 18, 2016  21:16

Yahoo

Business - Wall St. inches up with energy, Wal-Mart


Wal-Mart rose 1.7 percent after the retailer`s better-than-expected quarterly profit. At 3:08 p.m. ET, the Dow Jones industrial average was up 8.21 points, or 0.04 percent, to 18,582.15, the S&P 500 had gained 3.52 points, or 0.16 percent, to 2,185.74 and the Nasdaq Composite had added 12.25 points, or 0.23 percent, to 5,240.91. It is going through a phase where it will pivot from the Fed to more emphasis on companies growing their revenues,` said Thomas Wilson, Managing Director of Wealth Advisory at Brinker Capital, in Berwyn, Pennsylvania.


Thursday, August 18, 2016  20:34

Yahoo

World - US stocks slacken as energy companies rise, health care dips


NEW YORK (AP) Stocks are holding steady Thursday as health care stocks skid but the continuing rebound in oil prices gives energy companies a lift. Investors have resisted making big moves in recent days. Retail giant Wal-Mart is rising after it reported strong second-quarter results and raised its annual estimates.


Thursday, August 18, 2016  18:08

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