Walmart reports jump in 4Q profits on higher US sales

Walmart reported a jump in fourth-quarter profits on Tuesday behind higher sales at US stores, although executives acknowledged they had yet to solve the profitability riddle of its fast-growing e-commerce business. The world's biggest retailer, which has been investing aggressively to adapt its US stores to the digital era by adding more in-store pickup and delivery of smartphone orders, reported profits of $3.7 billion in the quarter ending January 31, up nearly 70 percent from the year-ago period. Higher comparable sales at Walmart's namesake US stores -- the source of two-thirds of revenues -- offset sales declines in Walmart International and Sam's Club.
Click here to read full news..