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Wal-Mart reported a higher-than-expected profit today as it controlled expenses and cut prices to draw customers into its United States stores earlier than ever for holiday shopping, sending its shares to their highest one-day gain in five years.
Wal-Mart said net profit rose 8 per cent to US$2.86 billion, or 70c a share, in the fiscal third quarter ended October 31, from US$2.65 billion, or 63c a share, a year earlier.
