By  on November 13, 2009

Wal-Mart Stores Inc. and Kohl’s Corp. played the value game well in the third quarter, driving up sales and earnings, but both retailers were less bullish about holiday than Wall Street had hoped.

The two retailers continued to forge ahead with expansion even as many competitors have avoided it in favor of cash preservation. “All over the world we’re gaining market share,” said Mike Duke, Wal-Mart’s president and chief executive officer, on a conference call. “We added more than 13 million square feet this quarter.”

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