Wal-Mart Stores Inc. raised its full-year profit outlook Thursday as the company reported second-quarter income up 5.7 percent over the same period a year ago.
Sales at stores open at least a year, which exclude revenue from stores opened and closed during the year, rose 2.2 percent in the Bentonville-based company’s U.S. division, beating analysts’ forecast of 2.1 percent. It was the fourth consecutive quarterly gain after the division ended a streak of nine consecutive declines in same-store sales last year.
Wal-Mart reported net income of $4.02 billion or $1.18 per share, up from $3.8 billion, or $1.09, from the same period a year ago.
The company expects third-quarter net income to be $1.04 to $1.09 per share in the third quarter.
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