Business

Walmart’s profit jumped 10.1%

New York – The benefit of Walmart has jumped 10.1% in the first quarter, when consumers looking for bargains have responded positively to the new emphasis placed by the largest retailer in the world on a range of products at low price.

Walmart Earnings totaled U.S. $ 3.74 billion, or $ 1.09 per share, compared with 3.39 billion or 97 cents per share last year. Net sales increased 8.6% to 112.2 billion. Comparable store revenues were up 2.6% in the U.S..

Despite the good showing, Wal-Mart executives cautioned that the economy is remains weak. Job security is still the No. 1 concern among Wal-Mart shoppers. Gas prices have come down, but they’re still high enough to squeeze customers. And many shoppers, the company said, also continue to buy smaller packages at the end of the month when finances are very tight.

In the second quarter, Wal-Mart expects its U.S. business to post a gain in revenue at stores opened at least a year of between 1 percent and 3 percent. Wal-Mart said that it expects per-share earnings in the second quarter to be in the range of $1.13 per share to $1.18 per share.

Analysts had expected $1.16 per share.

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