Wal-Mart posts higher quarterly profit

Thu Nov 15, 2012 7:11am EST

Nov 15 (Reuters) - Wal-Mart Stores Inc posted a higher quarterly profit on Thursday, helped by strong sales of back-to-school merchandise in the United States.

The world's largest retailer said it had earned $1.08 per share in the third quarter ended Oct. 31, up from 97 cents per share a year earlier.