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Published November 14, 2008, 12:00 AM

Wal-Mart’s profit rises

Wal-Mart officials sounded an upbeat tone for the holidays as the retailer posted a 10 percent increase in third-quarter profits on Thursday, saying that shoppers are responding to its early Christmas promotions.

NEW YORK (AP) — Wal-Mart officials sounded an upbeat tone for the holidays as the retailer posted a 10 percent increase in third-quarter profits on Thursday, saying that shoppers are responding to its early Christmas promotions.

But the world’s largest retailer trimmed its profit outlook for the fiscal year as it faces a troubled global economy and the renewed strength of the dollar.

Nevertheless, Wal-Mart — with its renewed focus on low prices — has been one of the few bright spots in retail, as Americans have focused on necessities at discounters.

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