Wal-Mart profit rises on food, drugs
May 16, 2007, 7:34 am
Filed under: International Company News
Filed under: International Company News
May 16 2007
New York – Wal-Mart Stores’ first-quarter profit rose 8 percent to $2.6 billion on increased sales of food and generic drugs, the world’s largest retailer said yesterday.
Sales increased 8.3 percent to $85.4 billion after fewer customers visited stores because of rising petrol prices and stormy weather.
Shares of Wal-Mart have climbed 3.6 percent this year, compared with a 1.6 percent gain by rival Target. – Bloomberg
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Product pipeline block cuts 66% off Verimark profit
May 16 2007
By Tom Robbins
Cape Town – Verimark’s net profit fell by two-thirds and it expected a significant improvement only in the second half of its current financial year, the niche household products retailer said yesterday.
