Overseas operations push up Walmart's performance
World's largest retailer, Walmart has seen its earnings topping the expectations of Wall Street because of high earnings on the overseas front. Most of this has come from the markets of Mexico, China and Brazil.
On the other hand, its main market, US has seen a decline in sales during the above mentioned quarter.
The retailer has raised its full-year forecast, but said that the investors are going to follow a 'cautious' approach.
Same store sales in supercentres, discount sales and neighborhood markets went down by 8.1 per cent. But the Sam Club has seen a marginal rise of 1 per cent. This is a decline for 1.4 per cent for fifth successive quarter for the retailer.
Despite this, sales of Walmart managed to outstrip its competitors despite recession. It was found that its low-prices were able to attract many affluent customers as well.
It lost to its competitors on the departmental stores front and has said that it will further raise its stock to be able to give better offers to its customers.
It saw a 3.6 per cent jump in earnings to end at $3.59 billion or 97 per cent per diluted share.
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