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Wal-Mart Stores Inc. is reporting a 9.3 percent increase in third-quarter net income as the world's largest retailer benefits from cost controls and a robust international business.
The top warehouse-style retailer in the U.S. said net profit climbed in the fiscal second-quarter as it posted higher sales, driven by international operations.
Target's earnings rose 18%, snapping a streak of eight quarterly declines, as the discount retailer saw improvement in its retail and credit-card operations. Saks swung to a $1.9 million profit.
Wal-Mart's earnings were flat on lower same-store sales. The retail giant raised the low end of its fiscal-year outlook and plans to speed up cost-cutting measures.