Wal-Mart misses mark

Wal-Mart Stores Inc. posted a 13 percent increase Thursday in third-quarter earnings but fell short of Wall Street forecasts, the first time it had missed expectations in seven years.

The world’s biggest retailer said its profit could miss expectations this quarter.

Wal-Mart’s results worried the market, pulling down shares of many retailers, amid indications that low-income consumers have still been spending cautiously. For some industry followers, Wal-Mart’s disappointing results took the wind out of rosy expectations mounting for the holiday season for merchants, though the consensus is that it will be still better than last year.

Economy

Trade deficit grows

The U.S. trade deficit widened to $41.3 billion in September as imports climbed to an all-time monthly high, a sign of Americans’ hearty appetite for foreign-made goods. Exports, however, also posted a solid gain.

The latest snapshot of the country’s trade activity showed that the trade gap grew by 4.4 percent in September from August’s $39.5 billion imbalance, the Commerce Department reported Thursday. September’s trade deficit was slightly larger than the $40.2 billion shortfall that economists were forecasting.

Imports of goods and services in September came to a record $127.4 billion, a 3.3 percent increase from the previous month. As the United States’ economy strengthens, so has Americans’ demand for foreign-made goods and services.

Lawrence

Sunflower Broadband wins call center award

Lawrence-based Sunflower Broadband’s call center operations were named among the best in the Kansas City area by a national association Thursday.

Sunflower won the Best in Class Award for Process Improvement from the Professional Teleservice Management Assn. Sunflower also was one of five finalists for the association’s Kansas City-area call center of the year award.

Approximately 20 companies entered the contest and included Sprint, H&R Block, and the Farmers Insurance Group.

Sunflower’s call center employs about 35 representatives and mainly answers questions related to new service and billing issues. Sunflower Broadband is owned by The World Company, which also owns the Journal-World.