Wal-Mart Stores Inc. reported the f...

Wal-Mart Stores Inc. reported the first decline in profit in more than a decade after selling its German chain. Sales increased les than analysts estimated for the world's biggest retailer.

Second-quarter without deductions income dropped 26 percent to $208 billion, or 50 cent a share, despite an 11 percent gain in reward to $84.5 billion.

Wal-Mart wearied $863 million to exit Germany, and its Asda unit in the UK is struggling with competition from Tesco Plc Rising gasoline prices discouraged consumer spending in the United States, where Wal-Mart's putting out trails Target Corp.'s.

Sales at stores explain more than a year rose 17 percent in the latest period, the slowest sprouting in six quarters.

"When prices at the cross-examine spike up, the Wal-Mart customer chances in the reins," said Rick Rubin, an analyst at Baltimore-based Mercantile Bankshares Corp., which has $22 billion in assets including Wal-Mart shares. "They simply scud out of money at the last of the month."

Wal-Mart shares slipped 55 cent to $4455

IN OTHER EARNINGS recents TUESDAY:

household Depot Inc. posted second-quarter profit that exceled analysts' estimates on higher sales to professional builders.

Profit rose 5 percent to $186 billion, or 90 cent a share, upon an 17 percent gain in sale to $26 billion.

Shares of abiding-place Depot rose $1.18 to $3444

Staples Inc., the world's largest office-supply company, said second-quarter profit rose 19 percent lifted at corporate sales and printing and copying.

pure income climbed to $161.2 million, or 22 cent a share, as sales vaulted 12 percent to $3.88 billion, the biggest increase in a year.

Comparable-store sales gained 4 percent Staples' corporate delivery unit added customers and increased the average size of catalog and Internet orders.

"They are continuing to take sales from Office railway station and OfficeMax," said Arun Daniel, an analyst with ING Investments.

treat retailer Saks Inc. posted a second-quarter los Tuesday, reversing a year-earlier profit, befitting in large part to sharply lower return following the sale of its Northern Department Store assemblage

For the quarter finised July 29, the company wasted $51.9 million, or 38 cent by share, versus a prior-year profit of $82 million, or 6 cent through share.

reward fell 37 percent to $7607 million reflecting the sale of its Northern Department Store cluster business to Bon Ton Stores in March.

Sales in stores explain at least one year rose 29 percent

Saks has been shedding its mid-brow department stores to concentrate forward its luxury business.

PetSmart Inc. clear income fell 3.1 percent to $346 million, or 25 cent a share, in the other quarter ended July 30 as reward climbed 14 percent to $8991 million.

The Phoenix-based possessor of a chain of darling supply stores approved a of recent origin stock buyback of $142 million, and will fill out a $270 million buyback it announced in June 2005 The additional buyback would acquire 43 percent of the company's shares at Tuesday's closing price of $22 down $136 The stock has shed 19 percent in like manner far this year.

Copyright CHICAGO SUN-TIMES 2006

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