Wal-Mart's net income dips

Wal-Mart Stores Inc.'s net income dropped to $3.8 billion in the fourth quarter from $4.6 billion a year earlier.

Officials cited discontinued real estate projects and severance payments.

Still, sales at U.S. stores open at least a year rose 1.8 percent, excluding fuel. Analysts had expected a 1.3 percent increase.

Read more from Reuters.

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