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Wal-Mart Profit Up, Meets Expectations

Posted: 2008-02-19 17:03:31

Filed Under: Earnings

BENTONVILLE, Ark. (Feb. 19) - Wal-Mart Stores Inc., the world's largest retailer, said Tuesday its focus on low prices paid off with a 4 percent rise in profit for its fourth quarter. International growth also helped boost profit and sales.

Wal-Mart said net income in the quarter ended Jan. 31 rose to $4.096 billion, or $1.02 per share, compared to $3.94 billion, or 95 cents a share, a year earlier.

Net sales grew 8.3 percent to $106.27 billion, helped by 18.8 percent international growth and 5.0 percent growth at U.S. Wal-Mart stores. Overall revenue including membership fees rose to $107.43 billion from $99.078 billion a year earlier.

Analysts surveyed by Thomson Financial had expected profit of $1.02 per share on revenue of $106.9 billion.

Wal-Mart forecast earnings per share for the 2009 fiscal year of $3.30 to $3.43. The range of 23 analyst estimates for the full year was $3.30 to $3.55, according to Thomson.

Chief Executive Lee Scott said Wal-Mart's decision last year to refocus on low prices after a brief foray into fashion and trendier merchandise had paid off in a time of mounting economic uncertainty.

"The price leadership strategy we put in place at the beginning of the year was exactly the right strategy for our customers around the world in a tough economic environment," Scott said.

Scott said the economy remains a critical issue for consumers this year.

"Customers were more cautious in their spending in January. In a volatile economy, I believe we are well positioned to succeed."

Copyright 2008 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. All active hyperlinks have been inserted by AOL.

2008-02-19 06:45:18

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8 comments

nickpasq 09:06:31 PM Feb 19 2008

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Yes, another Corporate miracle..........lower prices with record profits! Why do they keep saying they are lowering prices when they already claimed to be the low price? an 8% increase with a 10% increase in stores? Besides the BILLIONS they get in US tax subsidies they are now getting almost 25% of their profits overseas as they continue to fail to cut it here. Guppies will continue to go there and get fleeced. More intelligent shoppers will continue to stiffle their phony sales increase that are coming from nothing other than their inflated food and gas prices.

Dvrder 03:20:31 PM Feb 19 2008

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Wait a minute...record profits/lowest prices??????You people are too lazy to figure it out. Just because they SAY they lowered prices ,you sheep keep believing!

LRusso4TC 02:49:39 PM Feb 19 2008

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PRINTSCOPY BET YOU SAVE YOUR MONEY IN MATTRESS OR COOKIE JAR FUTURES.

LR CHAS. SC

LRusso4TC 02:48:33 PM Feb 19 2008

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I SHOP WALMART ONLY FOR BULK FOOD BUYING AND TO MAKE SURE NOTHING LIKE FISH WHICH COMES FROM ANTIBOTIC PONDS IN CHINA OR CLOTHES WHICH IS ALSO CHINA BANGALADESH INDIA PROBABLY LINED IN LEAD AS ARE TOYS ETC. THE OTHER DAY THEY FOUND CANDY FROM CHINA LOADED WITH STAPLES AND METAL SLIVERS. YEP LOVE THAT WALMART LOVE CHINA CAN'T TELL THE DIFFERENCE PRETTY SOON.

LR CHAS. SC

PrintsCopy 02:26:55 PM Feb 19 2008

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If you MORONS in the stock market are so Desperate for good news that the market picks up after a walmart report, then you are RETARDS

Desruisseaux 11:45:56 AM Feb 19 2008

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If I were in charge of Walmart I would change their name to CHINA-MART.

Walmart blows!!

Warril0520 11:44:39 AM Feb 19 2008

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If WalMart would live up to their claims, and take care of their employees as they say they do, they would be a true American success story.
But greed has them, and they just make more and more money, and hire more and more people for minimum wage, with no health insurance coverage for most.
And woe be to the one who DOES get hurt on the job!
Linda, in Texas

TSIMPSON2333 10:06:25 AM Feb 19 2008

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Some people do not shop at Wal-Mart more oftern mainly because a store is not located near enough to their homes. The closes Wal-Mart to us is 40 miles away. Thus, gas prices have a lot to do with Wal-Mart's success or the lack of success. You can't beat Wal-Mart's low prices on drugs or paper goods and some food items!
If I were in-charge at Wal-Mart, I would give gas rebates based on the amount a person spends.

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