Wal-Mart second quarter profit rises, could miss Wall Street view

(Reuters) - Wal-Mart Stores Inc forecast full-year earnings that could fall short of Wall Street expectations, even as the world's largest retailer posted a bigger-than-expected jump in quarterly profit.

Sales at Walmart's U.S. stores open at least a year, or same-store sales, rose 2.2 percent in the second quarter. The discount retailer has notched four consecutive quarters of same-store sales growth at Walmart U.S., by far its largest unit.

Same-store sales, a key measure, came in just ahead of analysts' expectations of a 2.1 percent increase, according to Thomson Reuters I/B/E/S. The rise was within the company's forecast.

Same-store sales also rose at its international division and Sam's Club warehouse chain.

Wal-Mart earned $1.18 per share in the quarter, up from $1.09 per share a year earlier. Analysts, on average, expected $1.17 per share, according to Thomson Reuters I/B/E/S.

Consolidated net sales rose 4.5 percent to $113.53 billion. Same-store sales rose in the company's international division and at Sam's Club.

Wal-Mart raised and narrowed its full-year earnings per share forecast. It now expects to earn $4.83 to $4.93 a share, versus a prior target of $4.72 to $4.92.

Analysts' average target is $4.93.

(Reporting by Jessica Wohl in Chicago; editing by Jeffrey Benkoe)

Source: http://news.yahoo.com/wal-mart-profit-rises-helped-strength-u-stores-110926819--finance.html

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