Wal-Mart reports 4Q profit increase

Wal-Mart Stores Inc. reported a 12 percent increase in profit for the fourth quarter as sales for the critical holiday shopping season perked up amid lower gas prices and an improving economy.

Earnings for its fourth quarter ended Jan. 31 were $4.97 billion, up from $4.43 billion a year earlier, according to The Associated Press.

Sales at stores open at least a year, considered a key indicator of a retailer's health, rose 1.5 percent at Wal-Mart stores, which make up 60 percent of the company's sales.

Read more from The Associated Press.