Wal-Mart income up 6% in quarter

by Staff
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BENTONVILLE, ARK. — Net income at Wal-Mart Stores, Inc. in the second quarter ended July 31, totaled $4,016 million, equal to $1.19 per share on the common stock, up 6% from $3,801 million, or $1.09 per share, during the same quarter of the previous year. Sales for the quarter were $113,534 million, up 5% from $108,638 million during the same quarter of the previous year.

“Wal-Mart had a strong second quarter, and I’m pleased with the earnings and overall results,” said Mike Duke, president and chief executive officer. “We had positive comp sales in Wal-Mart U.S. and Sam’s Club as well as each of our international markets, reinforcing that customers rely on Wal-Mart to help them save money and live better.”

For the six months ended July 31, income from continuing operations rose 7% to $7,758 million, or $2.28 per share, which compared with income of $7,228 million, or $2.07 per share, during the same period of the previous year. Sales for the period were $225,806 million, up 7% from $212,053 million.

“We take a variety of factors, including sales trends, the global economy and currency into account in providing our e.p.s. guidance,” said Charles Holley, executive vice-president and chief executive officer. “We expect third-quarter fiscal 2013 diluted earnings per share from continuing operations to range between $1.04 and $1.09. This compares to last year’s third quarter reported e.p.s. of $0.97. We are raising and narrowing the company’s full-year e.p.s. guidance to a range of $4.83 to $4.93. Our previous range was $4.72 to $4.92. Last year’s full-year e.p.s. was $4.54.”

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