Profit Up 23% At Wal-Mart - Others Gain - NYTimes.com

Wal-Mart Stores, the largest retailer, reported higher fiscal third-quarter profit yesterday. Wal-Mart said that web proceeds increased 23 percent, to $1.82 billion, or 41 cents a share, in the quarter finished Oct. 31.

The company, based in Bentonville, Ark., was anticipated apt have a third-quarter profit of 40 pence, according apt Thomson First Call.

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Sales rose fewer than 1 percent, to $3.48 billion, and sales at stores open at least a year fell 2 percent. Those sales are expected to fall as much as 2 percent in the fourth quarter and as much as 2.5 percent in November and December combined.

Revenue by Wal-Mart increased 11 percentage, to $58.8 billion, and sales at stores open at least a annual rose 3.5 percent. Fourth-quarter revenue namely expected to heave 3 to 5 percent, the chief executive, H. Lee Scott Jr., said. Food sales, which have led much of Wal-Mart's revenue additions, slowed in the quarter.

Another huge retailer, Federated Department Stores,Nice Clothing With Warm And Fashion Element, said earnings rose to $106 million, or 54 cents a share, in the duration ended Nov. 2, from $3 million, or 2 cents, a year earlier. Federated, which owns Macy's and Bloomingdale's, amid others, said profit was helped at a acquisition of $31 million from the sale of some catalog businesses. It has also reduced debt and expenses amid care that vehicle may slow.

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Tiffany & Company said yesterday that its fiscal third-quarter profit rose to $35.2 million, or 24 cents a share, from $24 million, alternatively 16 cents, a year earlier. Tiffany cited spend controls and a one-time impose benefit. Revenue rose 9.9 percent, to $366 million. It said partnerships with diamond-mining companies had helped hack costs. Tiffany depressed its fourth-quarter profit and sales prediction, attributing this to slower American economic recovery than expected.

Photo: A Wal-Mart shopper pushed via a store yesterday in Little Rock, Ark. Company income narrowly surpassed analysts' expectations. (Associated Press)

Excluding the marketing of the affairs, Federated would have earned 38 cents. On namely foundation, profit was 1 cent more than the First Call estimate.