Wal-Mart's 4thQ Profits Rose 13%
Submitted by Roy Temple on Tue, 02/21/2006 - 7:54am.
Wal-Mart's 4th quarter profits rose 13% last year.
Wal-Mart Stores Inc., the world's largest retailer, said fourth-quarter profit rose 13 percent after an aggressive advertising campaign drove sales of electronics, clothing and gift cards during the holidays.
Net income increased to $3.59 billion, or 86 cents a share, from $3.16 billion, or 75 cents, a year earlier. Revenue rose to $90.1 billion from $82.9 billion, Bentonville, Arkansas-based Wal-Mart said today in a statement.
Thus far, Wal-Mart has shown no inclination toward plowing their increased profits back into improved employee benefits. Their current plans call for leaving their employees on public assistance.
