Wal-Mart, Home Depot Post Higher Earnings

Wal-Mart Stores Inc. and Home Depot Inc. reported better-than-expected earnings for the fiscal fourth quarter, making them standouts at a time of lackluster retail sales. Net income at Wal-Mart, the world’s largest retailer, rose 16% as all of its operations turned in higher sales and profit; its domestic stores improved and its international division became profitable. Its net income rose to $1.1 billion, or 48 cents a share, from $942 million, or 41 cents, a year earlier. That beat by a penny the average estimate of analysts. It’s the third straight quarter of better-than-10% earnings growth, following three quarters of little or no gains. Atlanta-based Home Depot said its net income rose to $251 million, or 52 cents a share, from $185 million, or 39 cents, a year earlier. Also reporting was Columbus, Ohio-based Limited Inc., one of the largest specialty clothing retailers, which said fourth-quarter net income rose to $213 million, or 78 cents a share, from $200 million, or 74 cents, a year earlier.