Wal-Mart Stores, Inc. is an operator in retail stores within various formats worldwide, supplying meat, produce, deli, bakery, dairy, frozen foods, floral, and dry grocery; health and beauty aids, household chemicals, paper, etc.… Wal-Mart trades on the “New York Stock Exchange” under the Stock Symbol”WMT”. For the Latest information regarding “WMT”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Wal-Mart Stores Inc. (NYSE:WMT) reported a 22 percent increase in its fourth-quarter profit as the world's largest retailer cut costs and slimmed down its inventories. But sales showed its third consecutive quarterly decline, Wal-Mart said Thursday, as it continues to struggle with deflation with this tough economy at hand.
The decline in sales is taking place even as the discounter sees more customers and takes market share away from its rivals with aggressive discounting. Wal-Mart has promised investors that it plans to widen the price gap between itself and rivals as it cut costs and reinvests those savings to lower prices for shoppers, which in turn drives sales.
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