Instead of me explaining the whole scenario, I’ll let the press take this one

Here is the press release

“Wal-Mart (WMT - Cramer’s Take - Stockpickr - Rating) topped third-quarter earnings estimates and lifted its profit forecast for the year, noting improved results at its U.S. division and a tightened focus on inventory.The profit beat and relatively optimistic outlook helped ease some fears about the retail giant’s position ahead of a holiday season that is largely expected to be sluggish. Shares of Wal-Mart were jumping $2.32, or 5.4%, to $45.64 early Tuesday.

The Bentonville, Ark., company reported third-quarter earnings of $2.86 billion, or 70 cents a share, up from $2.65 billion, or 63 cents a share, a year earlier. The results included a 1-cent-a-share tax-related gain.

Last month, Wal-Mart bumped up its third-quarter earnings per share estimate to a range of 66 cents to 69 cents from an earlier forecast of 62 cents to 65 cents — a surprise move amid continuing weakness in its home furnishings and apparel categories as well as an overall lackluster retail environment.

Analysts, on average, most recently expected a profit of 67 cents a share, according to Thomson Financial.

Wal-Mart’s revenue rose to $91.95 billion from $84.47 billion a year earlier. Analysts projected revenue of $91.77 billion.

Same-store sales, or sales at stores open at least a year, inched up 1.5%.

“Our results for the third quarter reflect the improved performance of our U.S. operations. Both Wal-Mart Stores U.S. and Sam’s Club increased profits faster than sales. Wal-Mart International posted a solid quarter as well,” said Lee Scott, Wal-Mart president and chief executive, in a statement. “Our focus on managing inventory this quarter was very positive.”

At the Wal-Mart Stores U.S. division, operating income jumped 11.1%, while sales climbed only 6.4%. In raising its guidance last month, the company pointed to improved expense controls at the division, which has been struggling over the last two years with meager sales growth.”

Walmart has had a quite a jump in revenue. Despite the economy fluctuations in the housing market, it didn’t stop walmart from making money. By the way, did you guys know that Walmart family is the richest family in the world? Well, I would never doubt that, as they have giant stores everywhere.

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