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Wal-Mart Q3 earnings boosted by surge in online sales; shares up 3%

Online sales soared 50% during the quarter, exceeding growth rates in the industry

Reuters  |  Chicago 

Wal-Mart Stores Inc, the world's largest retailer, reported better-than-expected quarterly sales at established US stores on Thursday, boosted by hurricane-related purchases and soaring online sales, sending its shares up 3.5 percent. The retailer has recorded more than three straight years of comparable sales growth, despite slow demand and a tough retail environment that has hurt brick-and-mortar rivals. Excluding special items, earnings per share came to $1 in the third quarter ended Oct. 31, exceeding the average analyst estimate of 97 cents, according to Thomson Reuters ...

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First Published: Thu, November 16 2017. 20:18 IST