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Wal-Mart Sales Show Cracks

(Updated with analyst commentary on Wal-Mart earnings, as well as Wal-Mart stock movements.)

NEW YORK ( TheStreet) -- Wal-Mart Stores (WMT - Get Report) posted a slight uptick in third-quarter profit, despite the fact that its same-store sales slipped.

During the quarter, the behemoth discounter posted a profit of $3.24 billion, or 84 cents per share, a 3.2% increase over the same period last year. Analysts expected the company to earn 81 cents a share.

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Revenue inched up 1% to $99.4 billion from $98.3 billion, while comparable sales fell 0.4%.

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"The sales environment continued to be difficult this quarter, but customer traffic is up throughout the company," CEO and President Michael T. Duke said in a statement.

Still, Wal-Mart delivered its highest operating income growth in nearly a decade.

And its international business outperformed U.S., with particular strength in Britain, Mexico and Brazil.

Wal-Mart upped its full-year outlook to $3.57 to $3.60 a share, from a prior forecast of $3.50 to $3.60 a share. Analysts were expecting earnings of $3.58 a share.

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