Wal-Mart posts 10 per cent profit rise in 3rd quarter

WalmartNew York - US retail giant Wal-Mart reported Thursday that its surplus in the third quarter gained nearly 10 per cent, but that the company is now more cautious about its full-year prospects amid the economic downturn.

The Bentonville, Arkansas-based company said its surplus came to 3.14 billion dollars in the quarter, on sales of 98.64 billion dollars, up 7 per cent from the same period of
2007.

The world's largest retailer said that while it is "optimistic" about the upcoming Christmas shopping season, it was scaling back its projections for the full business year ending next January 31.

Wal-Mart said it expects earnings per share to range between 3.42 and 3.46 dollars for the full year, compared with previous estimates of 3.43 to 3.50 dollars. (dpa)

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