Wal-Mart Stores Inc.

Wal-Mart Stores Inc. reported on Nov. 13 that sales for the quarter ended Oct. 31 jumped 11.5 percent to $58.8 billion and net income increased by 23 percent to $1.82 billion, when compared to the third quarter of the previous fiscal year.

Same-store sales of units open for more than a year increased by 3.5 percent for all divisions of the world’s largest retailer. The results were driven primarily by a 4.2 percent same-store sales increase at the company’s flagship Wal-Mart stores. Sam’s Club stores turned in an anemic 0.4 percent comparable-store increase as wholesale clubs across the board suffered slower sales in the third quarter.

“Going into the important holiday selling season, we feel confident we are well positioned for a successful and record fourth quarter,” said Wal-Mart CEO Lee Scott.

Wal-Mart said in a recorded conference call that it expects fourth-quarter earnings of 53 cents to 55 cents per share, in line with Wall Street forecasts. Wal-Mart expects earnings for the full fiscal year, ending Jan. 31, of $1.76 to $1.78 per share.

Analysts, on average, were expecting a fourth-quarter profit of 55 cents per share, with estimates ranging from 52 cents to 57 cents, and full-year earnings of $1.78 per share, with estimates ranging from $1.75 to $1.80, according to research firm Thomson First Call.