Summary
Despite lack-luster sales this summer, Wal-Mart Stores Inc. and Target Corp. offered upbeat outlooks on consumer spending Thursday as they reported higher second-quarter results.
Wal-Mart's profit increased 8.6 percent and beat Wall Street projections by a penny per share. The company also raised its earnings forecast for the year, and said sales should pick up this fall. Target saw its profits almost quadruple thanks to a one-time gain from the sale of its Marshall Field's department stores.See the full content of this document
Extract
Large Stores Predict Upturn
"Although I am concerned about high gasoline prices, I continue to believe that growth in employment and real income will lessen the ...
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