Wal-Mart’s Q3 sales miss mark

BENTONVILLE, Ark. — Wal-Mart Stores Inc. saw profits slip and sales miss estimates ahead of the holiday season, even as revenues edged up slightly. Net income of $3 billion in Q3 was 8.2% lower than a year ago. In total, however, revenues rose 0.7% to $118.2 billion. Same-store sales increased by 1.2% just shy of the consensus forecast of 1.3%. Lower food prices contributed to the weaker sales, while a surge in online shopping boosted overall revenues.