Wal-Mart Stores has reported record first quarter sales and earnings for the period ended April 30, 2010. Net sales for the first quarter of FY ’11 were $99.1 billion, an increase of 6.0 per cent from $93.5 billion in the first quarter last year.
Wal-Mart International remains the fastest-growing segment, with net sales up more than 21 per cent on a reported basis and almost nine per cent on a constant currency basis. Consolidated operating income for the first quarter was $5.8 billion, up more than 10 per cent from last year, with a significant contribution from Wal-Mart US.
The company ended the quarter with return on investment of 19.1 per cent for the trailing 12 months ended April 30, 2010, up from 18.7 per cent for the comparable period last year. Wal-Mart added 3.6 million sq.ft of retail selling space this quarter and expects to have a significant number of new store openings in the second and third quarters.
— IndiaRetailing Bureau
