Investors concerned about the financial strength of the American consumer could take heart from Wal-Mart Stores' (WMT, news, msgs) results today.
The retailer this morning reported fourth-quarter earnings of $4.1 billion, or $1.02 per share, a 4% increase from the $3.94 billion, or 95 cents per share, in the same period a year ago. Excluding charges, Wal-Mart earned $1.04 per share, ahead of analysts' estimates of $1.02 per share.
Revenue rose nearly 10% to $107.4 billion, the first time a retailer has reported quarterly revenue more than $100 billion. Revenue was in line with analysts' expectations.