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. Last Updated: 07/27/2016

Wal-Mart Sales Jump




NEW YORK -- Continuing on its juggernaut sales pace, Wal-Mart Stores Inc. said Tuesday that its second-quarter sales had jumped 15 percent as its profit rose 21 percent.


Net income rose to $1.25 billion, or 28 cents a diluted share, compared with $1.03 billion, or 23 cents a share, in the quarter a year earlier.


Excluding a charge of 3 cents a share for a legal settlement with Valores Corp., a Mexican grocery wholesaler, the company made 31 cents a share. Analysts had expected the company to earn 28 cents a share, according to First Call Corp., which tracks company earnings.


The world's largest retailer, based in Bentonville, Arkansas, has been setting records all year as it races toward greater expansion. Last week, Wal-Mart had the fourth-largestbond issue in U.S. history, raising $5.75 billion to buy ASDA Group PLC, a British grocery chain.