Wal-Mart Stores Inc has reported net sales of $115.6 bn for the fourth quarter ended January 31, 2011, up 2.5 per cent from $112.8 bn in the corresponding quarter last fiscal.
Net sales for the fiscal year 2011 were $419 bn, an increase of 3.4 per cent over fiscal 2010. Net sales included a currency exchange rate benefit of $4.5 billion. Income from continuing operations attributable to Wal-Mart were $15.4 billion, a 6.3 per cent increase from $14.4 billion last year.
Consolidated operating income for the fourth quarter was $8 bn, up 7.3 per cent from last year, while for the full year it stood at $25.5 billion.
For fiscal year 2011, EPS and underlying EPS stood at $4.18 and $4.073, respectively, as compared to $3.73 per share and $3.673 per share, respectively, in the prior year.
“We are pleased with Wal-Mart’s strong earnings performance for both the fourth quarter and the full year across our three operating segments. At the same time, we are disappointed by Wal-Mart US fourth quarter sales,” said Mike Duke, president and chief executive officer, Wal-Mart Stores Inc.
Duke pointed out that under the leadership of president and CEO Bill Simon, Wal-Mart US is implementing a four-point plan designed to deliver better results. He acknowledged it will take some time to see positive comparable store sales.
Stressing that Wal-Mart International continues to be a growth engine, Duke said, “We expect accelerated growth in emerging markets. International net sales exceeded $109 bn this year, an increase of more than 12 per cent over the prior year.”
Wal-Mart ended the year with strong free cash flow of $10.9 bn, compared to $14.1 bn in the previous year. ROI for the full year was 19.2 per cent, compared to 19.3 per cent for the prior year.
– IndiaRetailing Bureau
