Wal-Mart's 4Q earnings down 7 percent

February 17, 2009 5:30:43 AM PST
Wal-Mart Stores Inc. says its fourth-quarter profit has fallen 7 percent.

The world's largest retailer saw its results hurt by the strong dollar and a charge that stemmed from settling a labor lawsuit. The company also said Tuesday that first-quarter earnings could miss Wall Street expectations.

The company posted earnings of $3.79 billion, or 96 cents per share in the quarter ended Jan. 31. That compares with $4.096 billion, or $1.02 per share a year earlier. Analysts surveyed by Thomson Reuters had expected earnings of 99 cents per share, excluding the lawsuit settlement.

Total sales came to $109.12 billion, up from $107.34 billion a year earlier. Analysts surveyed by Thomson Reuters expected $109.1 billion

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