Wal-Mart Profits Up 17%

So many retailers have been hurting recently. But Wal-Mart had a great quarter and raised its full-year forecast. However, the company also raised a red flag about the state of the global economy and the pressure it is putting on consumers worldwide.

Wal-Mart Stores Inc reported a 17 percent rise in profit and raised its full-year forecast as shoppers seek low prices, but cautioned that a difficult global economy was heaping pressure on consumers.

Wal-Mart, the world's largest retailer, also forecast on Thursday profit for the current quarter that could miss Wall Street targets and said it continued to see sales volatility from week to week.


"What we see, as do many around the world, is a global economy that is difficult," Wal-Mart Chief Executive Lee Scott said in a recorded call.

In other news from the company, Wal-Mart is making a $1 billion push into Brazil.

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