Wal-Mart reports record fourth quarter sales and earnings

Wal-Mart Stores Inc. on Tuesday reported a 12.4 percent rise in fourth-quarter profit.

Net income for the fourth quarter ended Jan. 31 rose to $3.6 billion, up from $3.2 billion during the prior year.

Net sales for the fiscal year ended Jan. 21, were $312.4 billion, up 9.5 percent over fiscal 2005. Net income increased 9.4 percent to a record $11.2 billion, up from $10.3 billion in fiscal 2005.