Wal-Mart profits rise despite weak US sales

15
Vote


The world’s biggest retailer, Wal-Mart, has reported a 9% rise in profits thanks to strong sales overseas.

Profit in the third quarter rose to $3.44bn (£2.15bn) compared with $3.15bn for the same period last year.

Sales in the US fell for the sixth month in a row as American shoppers continued to feel under pressure.

However, Wal-Mart International continues to enjoy strong growth. Its UK business, Asda, said that it would be creating 7,500 new jobs next year,

“Our international business continues to deliver impressive results with sales up more than 9%” said Mike Duke, Wal-Mart president and chief executive.

Wal-Mart has added almost 10 million square feet of retail space in the last three years, and 37% of this came from developments abroad.

Sales at Wal-Mart’s US discount stores have suffered because of high levels of unemployment which have seen customers cutting back on some essential items.

However, countries like Japan and Brazil have helped offset this drop off in sales.
UK boost

Earlier on Tuesday, Wal-Mart’s UK operation, Asda, said it would create 7,500 new jobs in the UK next year, half of them at new stores.

The company said it would hire 3,500 at new stores, 2,400 for its home shopping service and 100 in new pharmacies.
Asda store facia Asda has announced the creation of 7,500 new jobs

Asda will also recruit 1,500 staff at Netto stores, doubling its headcount at the Danish discount retail chain it bought in May.

The company said that it already had 3,000 unfilled job vacancies available.

“I’m proud to say that next year we will once again create thousands of new jobs at every level of our growing business,” said Andy Clarke, Asda’s chief executive.
[Story Source] [Contest win Rs 1000-100,000 now]

This post was submitted by Chinmaya Nayak.

Related Posts
US housing starts rise 10.5% in August

US housing starts rise 10.5% in August

The number of new houses started in the US rose to their highest level in four months in August, Commerce Department figures have shown.Housing starts rose 10.5% last month - the largest increase sinc...
Google in Talks to Buy Mobile

Google in Talks to Buy Mobile

Google Inc is in talks to buy mobile-payments company Softcard, technology news website TechCrunch reported on Friday, citing people familiar with the matter.The deal could help pair Google with...
7-Year-Old Girl In US Walks A Mile To Find Shelter After Surviving Plane Crash That Left Her Parents Dead

7-Year-Old Girl In US Walks A Mile To Find Shelter After Surviving Plane Crash That Left Her Parents Dead

After narrowly escaping death in a plane crash in rural Kentucky, a 7-year-old girl trekked almost a mile without shoes in near-freezing temperatures to find help, a witness has reported.When Larry Wi...
US, Pakistan threaten each other with military action

US, Pakistan threaten each other with military action

WASHINGTON: Barely disguising mutual antagonism, the United States and Pakistan on Thursday threatened each other with military action in the aftermath of the American raid...
Bollywood cheers Osama’s death

Bollywood cheers Osama’s death

The world's most wanted terrorist Osama bin Laden is dead. As US President Barack Obama confirmed the news, Bollywood stars tweeted furiously about it.Minissha Lamba tweeted: 'Osama is Dead. 2nd te...
It is inconceivable Osama had no support system in Pak: US

It is inconceivable Osama had no support system in Pak: US

WASHINGTON: The US wondered how Osama bin Laden managed to remain undetected in Pakistan for so long, saying it is "inconceivable" that he had no support system there and noted the Obama Administrat...

Leave a Reply

 
We will keep You Updated...
Get Free Email Newsletter from VoteUpIndia Sign up for our free email newsletter. (Help?)
Read latest headlines in your favorite news reader
Follow VoteUpIndia  on Twitter Become a VoteUpIndia Fan on Facebook Subscribe to VoteUpIndia in Google Reader Add VoteUpIndia  to My Yahoo Add VoteUpIndia  to Netvibes Subscribe to Free Techie Buzz RSS Feed
Sponsored Links
Advertisements
Featured Video
Amazon
Best Storytellers
Powered by Authors Widget
Recent Posts

McDonald's Suspends Employee, Probes Child's Eviction From Pune Outlet

PUNE: After reports emerged that an eight-year-old destitute child was thrown out of an outlet of...

Why Arjun Made a Humble Request to Cast Sonakshi in Tevar

It's all about wearing your Tevar, this new year. Arjun Kapoor looked dapper at the initial promotions...

5 things Modi needs to do ASAP, after Bihar loss

It's not correct to transpose the outcome from a state election as a referendum on the central government,...

Sehwag's half century in All Star tournament.

The first match has been really special. We thoroughly enjoyed being here. New York, you were brilliant....

Bihar Defeat May Lead to Silent Rebellion in BJP Against PM, Amit Shah: Arun Shourie to NDTV

NEW DELHI: In the aftermath of the BJP's debacle in Bihar, Arun Shourie, one time admirer of Narendra...

Court Refuses to Stop Gillette Razor Ad Starring Deepika Padukone

New Delhi: The Delhi High Court has refused to stop a Gillette razor advertisement starring Deepika...

Bigg Boss 9: Roopal Tyagi voted out of the house

TV actor Roopal Tyagi was evicted from reality show Bigg Boss on Sunday’s episode. Roopal is the...
Recent Comments
How i can submit my story...? and where i can see the staus of votes for this?
IFFI lose its art value,so it became lose it commercial value
Dear sir I am sending an article which is based on true story and needs your help to lime light such incidents which never come in
Thanks for the interesting article. Great Post. Keep it up
It is indeed heartening to learn that LSE, the world leader in higher education, will join hands with the most admired Reliance Foun
Tag Cloud