By ANNE D'INNOCENZIO, AP Business Writer 1 hour, 43 minutes ago NEW YORK - Wal-Mart Stores Inc. said Thursday second-quarter profit rose 17 percent and raised its full-year forecast as the world's largest retailer benefits from low prices that are attracting financially squeezed shoppers in a challenging economy and its campaign to cut costs.The Bentonville, Ark.-based retailer said that net income was $3.45 billion, or 87 cents per share, in the three-month period ended July 31, up from $2.95 billion, or 72 cents per share, in the year-ago period.
Income from continuing operations for the second quarter was $3.39 billion, an increase of 9.3 percent from $3.09 billion in the second quarter last year. The prior-year period included a benefit of 4 cents per share from several items, including the impact of a reduction of general liability and workers' compensation claim accruals, gains from the sale of certain real estate properties, and charges for legal and other contingencies.
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