Wal-Mart holiday profit rises despite lackluster sales
(Reuters) – Wal-Mart Stores Inc posted a larger-than-expected rise in quarterly profit on Thursday, as a lower-than-anticipated tax rate helped to overcome some weakness in sales at its major Walmart U. S. unit that persisted into the beginning of February. The world’s largest retailer also raised its dividend payout. Its shares fell 1 percent in premarket trading. Wal-Mart earned $1. 67 per share from continuing operations in the fiscal fourth quarter, up from $1. 51 per share a year earlier. Wal-Mart had forecast a profit of $1. 53 to $1. . . .
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