OREANDA-NEWS. Wal-Mart Stores, Inc. (NYSE: WMT) today reported financial results for the third quarter ended October 31, 2014. Consolidated net sales for the third quarter were USD 118.1 billion, an increase of 2.8 percent over last year. This quarter included the negative impact of approximately USD 396 million from currency exchange rate fluctuations. On a constant currency basis,1 net sales would have increased 3.1 percent to USD 118.5 billion. Membership and other income increased 13.9 percent versus last year. Total revenue was USD 119.0 billion, an increase of approximately USD 3.3 billion, or 2.9 percent.

Consolidated net income attributable to Walmart was USD 3.7 billion, a decrease of 0.7 percent. Diluted earnings per share from continuing operations attributable to Walmart were USD 1.15, or 0.9 percent above last year's USD 1.14. Additionally, the company's effective tax rate was 31.8 percent, below the previous guidance of around 34 percent, due to certain discrete tax matters. While the company benefited in the quarter from a lower than anticipated tax rate, the benefit was offset by a number of discrete charges. Operating expenses were impacted by an organizational restructuring in the U.K. and the Hurricane Odile losses in Mexico. Net interest expense was impacted as a result of reclassifying certain store leases from operating leases to capital leases.