Business News
Wal-Mart in black, but still cutting costs
Aug 13, 2009, 20:08 GMT
Washington - The world's largest retailer Wal-Mart Stores Inc Wednesday reported better profits than expected for the second quarter but announced added efforts to reduce costs.
Earnings were 3.44 million dollars, about the same as the second quarter period in 2008. Revenues fell 1.4 per cent to 100.9 billion dollars.
Walmart has already reduced inventory by nearly 6 per cent in US stores, chief executive officer Mike Duke said in a recorded call reported by Bloomberg financial news service. He said those efforts to cut costs would be accelerated in the coming quarter.
COMMENT
blog comments powered by DisqusLatest Headlines in Business
- 1. US unemployment drops further, but figures disappoint
- 2. Japan stocks down as euro debt outweighs positive US data
- 3. Iraq resumes oil flow after pipeline blast in Turkey
- 4. Spanish bond auction lifts eurozone worries, sinks Japan stocks
- 5. ECB holds rates, rules out early exit from emergency measures
Older Talkback
