Wal-Mart Tops Earnings Estimates as CEO Pursues Turnaround

November 17, 2015 12:30 PM

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Wal-Mart Tops Earnings Estimates as CEO Pursues Turnaround

Wal-Mart Stores Inc. topped third-quarter profit estimates and increased the low end of its annual forecast, a sign the retailer is making progress reining in costs and revamping its stores.

Earnings were 99 cents a share in the period, excluding some items, the Bentonville, Arkansas-based company said in a statement Tuesday. Analysts had predicted 98 cents on average, according to data compiled by Bloomberg. The company now expects profit of $4.50 to $4.65 a share this year, up from a ...

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