Wal-Mart's Profit Rises

Wal-Mart's profit rises for the first quarter as consumers turn to Wal-Mart's cheap prices for the goods and services that they need.

If you live in America, you have probably shopped at Wal-Mart, the land of the inexpensive goods with stores nationwide. Wal-Mart is the world's largest retailer and is proving to be so. The New York Times reported that Wal-Mart's net income rose to about $3 billion, or 76 cents per share, from $2.83 billion, or 68 cents per share in the first quarter. Wal-Mart shares have increased by 22 per cent while its rival, Target's, have only increased by 7 per cent. So why the increase in consumption of Wal-Mart goods? Many agree that with the economy on the down, more people are turning to Wal-Mart's thrifty tactics in order to save more. Instead of paying twice as much for the items that they can purchase at drug stores, clothing stores or even grocery stores, consumers are relying heavily on Wal-Mart to deliver them the goods that they need.