Wal-Mart posted its fifth straight gain in U.S. same-store sales as third quarter earnings beat analyst estimates. But, a strong U.S. dollar hurt international operations. Shartia Brantley reports.
Increased store traffic helped Wal-Mart post better than expected earnings. The world's largest retailer posted its fifth straight gain in U.S. same-store sales, which rose by 1.5 percent. The company reported earnings per share of $0.99. Analysts polled by Reuters were expecting $0.98. But headwinds remain for its roughly 4,600 stores. It's consolidated revenue declined as international operations have been hurt by a strong U.S. dollar. And Wal-Mart said that it expects growth to slow to one percent at stores open more than a year during the current holiday quarter amid a competitive environment. Wal-Mart's earnings have been under pressure from costs associated with e-commerce, store remodeling and increased employee wages. The company says these investments have generated more sales and better customer service. Shares were up in early trading.