Wal-Mart Stores broke the retail gloom that has penetrated so many recent first quarter earnings reports as it posted higher than expected earnings and revenue gains, and gave an upbeat view for the current period.
Wal-Mart’s strong performance in a quarter that has challenged so many other retailers, including Target, offered evidence that its efforts to improve its U.S. stores are paying off. Among other things, the giant discounter has increased associate pay and taken moves to ensure its stores are more consistently in stock.
