Business Digest

Walmart reports profit hike

Walmart Stores Inc. on Thursday reported a 3.2 percent increase in third-quarter profits. The discounter reported a profit of $3.24 billion, or 84 cents per share, for the period ended Oct. 31. That compares with $3.14 billion, or 80 cents per share, in the year-ago period. Revenue rose to $99.4 billion from $98.3 billion.

Kohl's has 21 percent profit rise

Kohl's Corp.'s sales of exclusive brands and tight inventory control helped its third-quarter profit rise 21 percent, the company said Thursday. Profit for the three months ended Oct. 31 rose to $193 million, or 63 cents per share, compared with $160 million, or 52 cents per share last year. Revenue rose 7 percent to $4.05 billion, from $3.8 billion a year ago.

Lee reports profit in 3rd quarter

Lee Enterprises Inc., publisher of the Lincoln (Neb.) Journal Star and dozens of other newspapers, says it earned a small profit in the third quarter, helped by cost cuts and lower prices for paper. Lee earned $1.8 million, or 4 cents per share. In the same quarter a year ago, it took heavy goodwill impairments, resulting in a loss of $192.24 million, or $4.34 per share. Revenue dropped 20 percent to $195.8 million as advertising continued to fall.

Premium files for Chapter 11

A Nebraska meatpacking company that has furloughed hundreds of its employees for months has filed for Chapter 11 bankruptcy protection. An estimated 400 Premium Protein Products workers have been off the job since June. Premium Protein has its headquarters and a processing plant in Lincoln; its slaughterhouse is in Hastings. Those plants remain closed. No estimate of assets and liabilities accompanied the bankruptcy filing.

— From wire reports